Northern Vertex Files Amended Preliminary Economic Assessment Jun 18, 2013 11:55PM

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 18, 2013) - Northern Vertex Mining Corp. (the "Company") (TSX VENTURE: NEE) announces that further to its news releases of March 28, April 19, and June 6, 2013 the Company has now filed at www.sedar.com an amended preliminary economic assessment ("Amended PEA") of its Moss Mine Gold-Silver Project dated June 18, 2013. The Amended PEA is responsive to comments received from staff at the British Columbia Securities Commission and is now compliant with NI 43-101 (Disclosure Standards for Mineral Projects). In particular, the Amended PEA provides for:


--  Enhanced disclosure of the qualifications of the responsible Qualified
    Persons ("QP") who co-authored the report as well as the addition of
    Robert Lambeth, P.Eng to the QP team;
--  Augmented information about the rationale for the channel-shaped
    "trench" open pit model for the near-surface Moss vein stock-work system
    versus using underground mining methods to mine the deposit.
--  Additional description of the geology of the Moss vein stock-work
    mineralized system to further assist the reader in assessing the open
    pit mining model used in the report versus using underground mining
    methods.
--  Further disclosure about the prior underground mining and its minimal
    effect on the estimated resource base.
--  Additional information about the choice of a 0.3 grams/tonne cut-off for
    the resource estimates included in the PEA.
--  Additional explanation of the oxide/non-oxide nature of the deposit and
    the influence of that on metallurgical recoveries.
--  Further explanations of the extensive surface, and subsurface,
    geotechnical work carried out on the Moss Mine rock structures.
--  Effects of the approximately 2% NSR royalty on the Moss Mine Gold-Silver
    Project economics.
--  Additional sensitivity analyses to show the effect of percentage changes
    in metals prices, capital costs and operating costs on the project's
    base case economics.
--  The inclusion of updated consensus price forecasts information as part
    of the $1500/ounce gold and $30/ounce silver price assumptions.
--  Information about the tax structure in the jurisdiction in which mining
    would take place and recognition that while tax effects are not
    quantified they will reduce project net present value and internal rate
    of return.
--  A revised recommendation to increase drilling (and related assaying and
    reporting) from 2200 to 3700 meters at an approximate cost of an
    additional $442,000 ($904,000 total cost of drilling). The PEA
    conclusions are not dependent on the outcome of the drilling which is
    designed with the goal of upgrading resources lying outside of the first
    two phases of the project.

The principal conclusions of the Amended PEA are generally consistent with the original PEA which are fully disclosed in the March 28, 2013 news release. The effects of the inclusion of the 2% NSR royalty reduces its net present value (100% ownership model) from the previously announced $110 million (pre-tax) to approximately $105 million (the internal rate of return is reduced from 118% to 113%). The Amended PEA continues to recommend a pilot plant operation ($7.3 million capital and operating) along with the above referenced drilling. Any revenue from the pilot plant will reduce the capital cost. This work would be followed by a NI 43-101 compliant report upon completion of the foregoing which will analyze the results of the pilot operation and assess the risks of proceeding to the operational phase which formed the basis of the economic assessment for which the previous conclusions were announced.

The Company reiterates that the Amended PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and that there is no certainty that the preliminary economic assessment will be realized. The Company also corrects and withdraws any reference to a "mineable resource". While that term was only intended to convey the portion of the resource potentially believed to be technically capable of being mined by the proposed method, it could have been confused with reserves.

Northern Vertex CEO Dick Whittington, P.Eng., commented on the Amended PEA filing, "We were pleased to see that the principal conclusion of the original PEA remains intact, namely that the Moss Mine Gold-Silver Project appears to show the potential for positive economics even under some negative assumptions such as lower metals prices and higher capital and operating costs. We look forward to implementing the recommendations of the Amended PEA and to work towards establishing a pilot operation to test the technical and economic assumptions which form the basis of the report."

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

For further information, please visit www.northernvertex.com.

Cautionary Note About Forward Looking Information

This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations

Cautionary Note to U.S. Investors:

This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. Investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.

2013 number 11


FOR FURTHER INFORMATION PLEASE CONTACT:
Northern Vertex Mining Corp.
Investor Relations
604-601-3656 or 1-855-633-8798
www.northernvertex.com

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.



Source: Northern Vertex Mining Corp.


Weyerhaeuser Company Announces Pricing of Public Offering of Common Shares Jun 18, 2013 11:44PM

FEDERAL WAY, Wash., June 18, 2013 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the pricing of the public offering of 29,000,000 common shares at $27.75 per share. Weyerhaeuser raised approximately $805 million of gross proceeds from the offering. In addition, the underwriters of the offering have an option to purchase up to an additional 4,350,000 common shares.

(Logo: http://photos.prnewswire.com/prnh/20120111/AQ34535LOGO)

The net proceeds will be used as partial consideration to finance the previously announced acquisition of all of the equity interest in Longview Timber LLC. The offering is expected to close on Monday, June 24th, 2013, subject to customary closing conditions.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are the joint book-running managers on the offering.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities Exchange Commission ("SEC"). The offering will be made only by means of a prospectus supplement and the accompanying prospectus. A copy of the final prospectus related to the offering may be obtained, when available, by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: (800) 503-4611; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146. These documents will also be filed with the Securities and Exchange Commission and will be available at the SEC's Web site at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Weyerhaeuser CompanyWeyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control more than 6 million acres of timberlands, primarily in the U.S., and manage another 13.9 million acres under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood and cellulose fibers products, and we develop real estate, primarily as a builder of single-family homes. Our company is a real estate investment trust. In 2012, we generated $7.1 billion in sales and employed approximately 13,200 people who serve customers worldwide. We are listed on the Dow Jones World Sustainability Index. Our stock trades on the New York Stock Exchange under the symbol WY.

Forward Looking StatementsCertain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected. For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements, please refer to "Risk Factors" in the prospectus supplement and accompanying prospectus for this offering and our Annual Report on Form 10-K for the year ended December 31, 2012, which is incorporated by reference in the prospectus supplement and accompanying prospectus for this offering. We undertake no obligation to publicly update or revise any forward-looking statement.

Contacts:

Media:Anthony Chavez253-924-7148Anthony.chavez@weyerhaeuser.com

Analysts:Kathryn McAuley253-924-2058Kathryn.mcauley@weyerhaeuser.com  

SOURCE Weyerhaeuser Company


Weyerhaeuser Company Announces Pricing of Public Offering of Mandatory Convertible Preference Shares Jun 18, 2013 11:38PM

FEDERAL WAY, Wash., June 18, 2013 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the pricing of the public offering of 12,000,000 6.375% Mandatory Convertible Preference Shares, Series A at $50.00 per share. In addition, the underwriters of the offering have an option to purchase up to an additional 1,800,000 shares of the Mandatory Convertible Preference Shares. The offering is expected to close on Monday, June 24, 2013, subject to customary closing conditions.

(Logo:  http://photos.prnewswire.com/prnh/20120111/AQ34535LOGO)

Unless converted or redeemed earlier, each Mandatory Convertible Preference Share will convert automatically on July 1, 2016, into between 1.5015 and 1.8018 of our common shares, subject to anti-dilution and other adjustments. The number of our common shares issuable on conversion will be determined based on the average VWAP of our common shares over the 20 trading day period commencing on and including the 22nd scheduled trading day prior to the mandatory conversion date.

Dividends on the Mandatory Convertible Preference Shares will be payable on a cumulative basis when, as and if declared by our board of directors, at an annual rate of 6.375% on the liquidation preference of $50.00 per share. The dividends may be paid in cash, or subject to certain limitations, in common shares or any combination of cash and common shares on January 1, April 1, July 1 and October 1 of each year, commencing on October 1, 2013, and to, and including, July 1, 2016. Net proceeds from this offering, after deducting underwriting discounts, commissions and expenses are expected to be approximately $581 million. Net proceeds are expected to be approximately $668 million if the underwriters exercise their option to purchase additional shares in full. 

The Company intends to use the net proceeds of the offering, if completed, as partial consideration, to finance the previously announced acquisition of all of the equity interests in Longview Timber LLC.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are the joint book-running managers on the offering.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities Exchange Commission ("SEC"). The offering will be made only by means of a prospectus supplement and the accompanying prospectus. A copy of the final prospectus related to the offering may be obtained, when available, by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: (800) 503-4611; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146. These documents will also be filed with the Securities and Exchange Commission and will be available at the SEC's Web site at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Weyerhaeuser Company

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control more than 6 million acres of timberlands, primarily in the U.S., and manage another 13.9 million acres under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood and cellulose fibers products, and we develop real estate, primarily as a builder of single-family homes. Our company is a real estate investment trust. In 2012, we generated $7.1 billion in sales and employed approximately 13,200 people who serve customers worldwide. We are listed on the Dow Jones World Sustainability Index. Our stock trades on the New York Stock Exchange under the symbol WY.

Forward Looking Statements

Certain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected. For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements, please refer to "Risk Factors" in the prospectus supplement and accompanying prospectus for this offering and our Annual Report on Form 10-K for the year ended December 31, 2012, which is incorporated by reference in the prospectus supplement and accompanying prospectus for this offering. We undertake no obligation to publicly update or revise any forward-looking statement.

Contacts:Media:Anthony Chavez253-924-7148Anthony.chavez@weyerhaeuser.com

Analysts:Kathryn McAuley253-924-2058Kathryn.mcauley@weyerhaeuser.com

 

 

SOURCE Weyerhaeuser Company


Shanghai Tower Co-opts with Eslite to Build New Urban Cultural Landmark Jun 18, 2013 11:25PM

TAIPEI, June 18, 2013 /PRNewswire/ -- Shanghai Tower and the Eslite Spectrum in Taiwan signed a letter of intent for leasing agreement today, which marks the Eslite Life will be officially launched in Lujiazui in the Pudong New Area of Shanghai. The duo will collaborate to establish a new cultural landmark which combines the quintessence from both sides of the Taiwan Strait. This cooperation embodies Shanghai Tower's core value of focusing on the needs of users and it will also provide an excellent opportunity for the Eslite Spectrum to tap into the Chinese mainland market. Shanghai Tower Construction and Development Co. Ltd. chairman Kong Qingwei, general manager Gu Jianping and deputy general manager Chen Chao, and Eslite Spectrum chairman Wu Ching-Yu and president Mercy Wu attended the signing ceremony which was held at Eslite Spectrum flagship store in Taipei's Xinyi District.

As the first Taiwan company providing an innovative platform that brings together life and culture, the Eslite Spectrum will launch a branch store in Shanghai Tower in 2015. It will occupy B1, 52nd and 53rd floors, with an expected floor area of 6,500 square meters. It will truly become the highest cultural landmark in the Shanghai sky. The Eslite Spectrum will inherit and follow the parent company's sustainable business philosophy of 'humanism' to realize the core values of 'Humanity, Art, Creativity to Life'. It will take full advantage of the building's distinguished vertical city design feature to provide reading space, cultural and creative service and product sales with good hospitality and the flexible combination of different spaces. The 52nd floor and the 53rd floor will provide a cultural communication and creation space featuring reading, experience, study and interaction, while the B1floor will stage the beautiful lifestyle in a unique way which concentrates the essence of the city and the scope of the Eslite Spectrum.

Shanghai Tower will become the future landmark in the center of the city. Speaking of the Shanghai Tower's vision and plan, the chairman Kong Qingwei said, "We took into full consideration the important of cultural development to commercial space in the initial planning of Shanghai Tower. The Eslite Spectrum's core value of Humanity, Art, Creation to Life coincides with Shanghai Tower's position of establishing commercial space combining vertical community, business leadership and diversified culture. Following Shanghai's openness, advance and diversity, we will dedicate to promoting the cross-strait cultural cooperation and development by forging a distinguished cultural platform."

Previously, Shanghai Tower has signed a letter of intention for lease agreement with Guanfu Museum. From Guanfu to the Eslite Spectrum, Shanghai Tower has endeavored to develop a sustainable, people-oriented business community to redefine the CBD and innovatively improve the function and value of the commercial space.

Eslite Spectrum chairman Wu Ching-Yu said Shanghai is a diversified international hub with a perfect combination of classic and modern culture. It's also a great metropolis with a global talent pool and robust urban development. He said they are very lucky to become part of the city's efforts to forge and deepening its urban culture image. The Eslite Spectrum will dedicate to developing a new cross-strait cultural communication platform by actively engaging in the construction of Shanghai's city culture and bringing forward new ides to promote cultural creative industry and increase the cultural output. He also said he wishes to cultivate local cultural and civilization with Shanghai Tower and create a wonderful Shanghai city with local friends.

As the masterpiece which marks the completion of the skyscrapers in the Lujiazui Financial and Trade Zone, Shanghai Center will reach 632 meters, breaking the record height of Shanghai . It's expected to receive 30,000 to 40,000 office workers, sightseeing tourists, shoppers and hotel guests. The 200,000 white-collar workers in the Lujiazui area and the 23.8 million residents in Shanghai will help the Eslite Spectrum secure the great development potential and opportunity of the Shanghai market.

# # #

About Shanghai Center

Located in the Lujiazui Financial and Trade Zone in Pudong New Area of Shanghai, Shanghai Tower is record-breaking 632 meters tall, with 121 floors above the ground and 5 floors underground. It covers 576,000-square-meter floor area and green area accounted for 33% of its space. It combines high-level offices, super five-star hotels, boutiques, sightseeing, cultural recreation and distinctive meeting facilities. After it's completed, Shanghai Tower will join Jin Mao Tower, Shanghai World Financial Center and other skyscrapers to create a new skyline of the Lujiazui financial hub and display the fruits of the reform and opening up of Pudong and the spirit of the Lujiazui Financial and Trade Zone.

Currently, Shanghai Tower has reached 530 meters tall. The major structure is expected to be completed this August. The construction will be finished in 2015 and Shanghai Tower will become a world-famous landmark in Shanghai.

In accordance with Shanghai's strategic goal to build itself into an international financial hub by developing the financial service, Shanghai Center will become the Lujiazui Financial Hub's landmark building dedicated to the development of local financial service industry. In the meantime, Shanghai Tower will also contribute to the overall development of Lujiazui by enriching the public space, improving city facilities and promoting the integration of modern service industry.

Shanghai Tower possesses five major functions. No1, Class-A office facilities that live up to international standard. It provides upmarket office space, system and service that cater to various needs of banks, insurance, securities, funds and other financial service industries, multinationals' regional headquarters and modern service industries. No2, super five-star restaurants and hotel facility. Individualized services and elegant accommodation provided by international hotel giants are available in Shanghai Tower for global top clients. No 3, comprehensive commercial service. Shanghai Tower offers commercial facilities that include retail stores, dinners, business centers and lifestyle center to provide a comprehensive high-quality service to office workers, businessmen and residents in the financial city. No4, Sightseeing and cultural recreational activities. Shanghai Tower is a commercial cultural community which combines multiple function including shopping, sightseeing, dining and recreation. No 5, distinctive meeting facilities. Meeting rooms with excellent views are located in the high area of Shanghai Tower, while a 2000-square-meter multi-function room and a 1000-square-meters banquet halls and outdoor open-air gardens are seated in the podiums to provide space for special occasions including ceremonies, fashion shows, summits and forums, exhibitions and displays, art performance, parties and balls and wedding ceremonies.

Once completed, Shanghai Tower, Jin Mao Tower and Shanghai International Financial Center will co-form the major financial service center, supporting business center and public activity center of Shanghai, to provide space for the city to develop itself into an international cosmopolitan with advanced modern service industries and realize its ambitious dream to bolster itself into an international economic, financial, trading and shipping center.

About the Eslite Spectrum

The Eslite Group started from a small humanity and art bookstore in Taipei in 1989 and it has been running in Taiwan for more than 24 years. Due to the perseverance to its business value of Humanity, Art, Creation to Life and the distinctive taste, broad channels and integrate abilities and creative ideas, the small bookstore successfully transformed into a culture-based comprehensive business model covering bookstore, mall, art gallery, shows, dinning, network and logistics. It is known as a Taiwan brand with "human, space, commodity and activity" as its core elements to present a diversity of activity, space, culture and human contact. For a long time time, the Eslite is devoted to developing the Taiwan culture. It strives to develop an elegant environment for people to explore humanity. Also, the buildings of the Eslite, which have their unique styles, are not only corporate buildings but also city tourism sites, since they are in great harmony with city landmarks.

The Eslite Spectrum inherits and follows the parent company's sustainable business philosophy of 'humanism' to realize the core values of 'Humanity, Art, Creativity to Life'. Different from the parent corporation's focus on exploring the cultural content, the Eslite Spectrum runs a comprehensive business featuring creative cultural industry. It provides lifestyle products, restaurants and hotels. The Eslite Spectrum established a flexible chain business model in which all stores are both similar and unique.   

The Eslite Spectrum made a monumentary step to expand its business landscape in 2012 by launching the first overseas branch store in Causeway Bay, Hong Kong. To date, the Eslite Spectrum has a total of 42 outlets covering 3 major fields: communication career, catering business and hotel industry. The Eslite Spectrum initialed a creative business model featured by unique chain stores. The unique style, business scale and flexibility of each store depend on the analysis of focus, scale, design and target consumer of each business area.

The name of the corporation 'Spectrum' embodies light, energy and life. The very "spectrum" of the corporation is consisted of the life and energy of each consumer of the Eslite Spectrum. This is a spectrum that reflects the collective work of every individual. The Eslite Spectrum vows to be the stage where all colorful spectrums shine, where every individual shines with the wonderful life experience that we provide.

 

SOURCE Shanghai Tower


HealthCare Volunteer Founder, Neilesh Patel, named National Jefferson Award winner in Washington DC Jun 18, 2013 11:00PM

WASHINGTON, June 18, 2013 /PRNewswire-USNewswire/ -- Dr. Neilesh Patel DDS was among the awardees announced yesterday evening for the annual 2012 National Jefferson Awards. Patel along with Dolores Huerta and Elie Wiesel were named at the annual Jefferson Awards black tie affair at the Mandarin Oriental.  Patel will be awarded the prestigious National Jefferson Award for Greatest Public Service by an Individual Under the Age of 35. The ceremony takes place today at the Arena Stage in Washington DC.

31 year old Patel is being honored for his founding of global health 501 (c) (3) non-profit, HealthCare Volunteer, which has facilitated health services for upwards of 1 million people around the world. The force of volunteers spans over 193 countries and comprises professionals from every single health profession. Patel, also a licensed dentist, started the organization as a dental student while at UCLA with $250 of school loan money. "All I wanted is for health volunteering to be accessible by all who want to serve humanity," said Dr. Patel in an interview in Washington. "It's now a reality."

As the recipient of several humanitarian awards, rumors have recently surfaced that Patel will make a run for political office in his home state of California. When questioned about his intentions, Patel refused to comment, but did not deny the rumors either. Patel already holds multiple government appointments at present including a previous stint as the Public Services Representative on the Children's Policy Council for the State of Texas, Public health consultant for the FDA Dental Devices Branch and Dental Consultant for the Tulare County Office of Education Early Childhood Program.

The Jefferson Award is one of the nation's most prestigious awards honoring Americans who have performed public service on a national level. The Award is dubbed as a "nobel prize for public service and volunteerism" and has been bestowed upon many famous Americans since 1972 including Jimmy Carter and numerous Senators. Patel will join Steve Jobs, Faith Hill, Peyton Manning and Bobby Jindal as an awardee of the Award later today; all received the Award in previous years when they were under the age of 35.

SOURCE HealthCare Volunteer


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