CALGARY, ALBERTA -- (Marketwired) -- 08/01/14 -- Detector Exploration Ltd. ("Detector") (TSX VENTURE: DEX) announces that as of July 25, 2014 Detector has completed the previously announced (July 4, 2014) purchase of gas properties in the West Pembina area of Alberta.
Funds for the acquisition were arranged through debt financing and Detector Exploration Ltd. debt is currently at $2.1 million.
As of August 1, 2014 Detector has outstanding 11,918,701 Common Shares. Detector has determined that Detector's "public float" (the number of shares outstanding not held by directors, officers, promoters, 10% shareholders or their affiliates, spouses, and other associates and not under any hold period or escrow restrictions) is 5,589,752 based on information provided to Detector by its insiders.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT:
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding reserves, present value of future cash flow, exploration results, and future plans and objectives of Detector, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Detector's expectations are exploration risks, production risks and pricing risks detailed herein and from time to time in other filings made by Detector with securities regulators.
Contacts:
Detector Exploration Ltd.
Ronald E. Alexander
President
(403) 264-1880
(403) 264-7401 (FAX)
detectorex@shaw.ca
