VANCOUVER, Jan. 26, 2012 /PRNewswire/ - Emerick Resources Corp. (TSX-V: ERC) announces that due to current market conditions, the Company has terminated the proposed transaction whereby it was granted the option to earn a 75% interest in the Providence Greenstone Belt Project located in the Northwest Territories (see news release of August 4, 2011). The planned private placement to raise funds for this transaction is also not proceeding.
As the Company is not currently maintaining the continued listing requirements of the TSX Venture Exchange, the Exchange has transferred the Company's listing to the NEX Board under the trading symbol ERC.H.
The Company's working capital position is approximately $550,000 and management is currently evaluating prospective mineral properties for potential acquisition.
ON BEHALF OF THE BOARD"Ralph Rushton" Ralph Rushton, President & CEO
Investor relations: Jaclyn Ruptash, tel: 604-801-5432 Symbol: TSXV-ERC Shares Issued: 20.1-million Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Emerick Resources Corp. Actual results may differ materially from th ose currently anticipated in such statements. SOURCE Emerick Resources Corp.