Ascendant Holdings press release announcing creation of ...
Ascendant Holdings press release announcing creation of ...
Ascendant Holdings press release announcing creation of ...
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Bermuda Stock Exchange<br />
http://bsx.com/NewsArticle.aspArticleID=1097699749<br />
Page 1 <strong>of</strong> 2<br />
3/17/2005<br />
Home | Daily Trade Report | Overview | Listed Issuers | Trading Members | Listing Sponsors | News<br />
BSX News<br />
<strong>Ascendant</strong> <strong>Holdings</strong>, Ltd. Plans Spins-Off Of Copper Projects<br />
Hamilton, Bermuda: 13 October 2004 - <strong>Ascendant</strong> <strong>Holdings</strong>, Ltd. (AHH.BH-Bermuda) announced<br />
today a plan to spin-<strong>of</strong>f two <strong>of</strong> their copper projects into a new corporate structure which they intend<br />
to take public through an Initial Public Offering on a major international exchange in the first quarter<br />
<strong>of</strong> 2005.<br />
<strong>Ascendant</strong> <strong>Holdings</strong>, Ltd.’s plan is to place its two most advanced copper projects, Junin and<br />
Chaucha, into a newly formed company, <strong>Ascendant</strong> Copper Corporation (Canadian B.C.) and<br />
prepare the company for an IPO on a major international exchange. Both Junin and Chaucha have<br />
Canadian NI 43-101 reports completed and the Junin Property satisfies the Toronto Stock<br />
Exchange’s requirement to have property <strong>of</strong> merit. Under the plan, <strong>Ascendant</strong> <strong>Holdings</strong>, Ltd. will be<br />
issued stock in <strong>Ascendant</strong> Copper Corporation as consideration for the two copper projects.<br />
<strong>Ascendant</strong> <strong>Holdings</strong>, Ltd. intends to dividend approximately 90% <strong>of</strong> the shares received to its<br />
shareholders <strong>of</strong> record on October 28, 2004. <strong>Ascendant</strong> <strong>Holdings</strong>, Ltd will retain the balance <strong>of</strong> the<br />
shares.<br />
The Shareholders have received notification <strong>of</strong> the plan.<br />
About <strong>Ascendant</strong> <strong>Holdings</strong> Ltd.<br />
<strong>Ascendant</strong> <strong>Holdings</strong> Ltd is a junior exploration mining company, focused on the development <strong>of</strong><br />
industrialized metals mining in the country <strong>of</strong> Ecuador. <strong>Ascendant</strong> controls mineral resources in a<br />
diversified portfolio <strong>of</strong> mining projects. Management's objective is to create shareholder wealth<br />
through the exploration and development <strong>of</strong><br />
mineral projects on an international scale. The company is currently negotiating on additional<br />
precious metal and base metal projects.<br />
Contact<br />
www.ascendantholdings.com<br />
Christopher Werner<br />
920-803-9910<br />
cw@ascendantholdings.com<br />
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