Actus Minerals Property Acquisition-Proposed Financings
December 24 2010 - 2:06PM
Marketwired
Actus Minerals Corp. (TSX VENTURE: AAC) (the "Company") is pleased
to announce that it has entered into an option agreement with
Beaufield Resources Inc., to acquire a 50% interest in 2 claim
blocks comprised of a total of 141 designated claims ("CDC")
covering an area of 7,918 hectares. The property, known as Casa
Berardi, is located in the township of the same name, in the
province of Quebec (the "Property").
Some of the CDCs are contiguous to Aurizon Mines' Casa Berardi
gold mine which has been in operation for over 10 years.
Pursuant to the terms of the option agreement, and subject to
regulatory acceptance, the Company can acquire a 50% interest,
subject to a 2% percent net smelter return royalty ("NSR"), in the
Property by expending $650,000 in exploration expenditures and
issuing an aggregate of 1,200,000 shares over a three year period.
The Company may at any time acquire half of the NSR, 1% for a one
time payment of $1,000,000.
The Company's initial obligation upon regulatory acceptance is
to issue 300,000 common shares to Beaufield Resources Inc., and
spend $100,000 in exploration expenditures on the Property in the
first year. All securities issued pursuant to the option agreement
will be subject to a four month hold period trading
restriction.
A summer 2011 exploration program will be planned to include
geological mapping, geochemistry and trenching, directed towards
drill target definition.
The Company also wishes to announce that, subject to regulatory
acceptance, it has negotiated two private placements. The first
placement consists of the issuance of up to 1,000,000 flow-through
units at $0.12 per unit. Each "Unit" consists of one flow-through
common share and one non-transferable share purchase warrant
exercisable to purchase an additional common share for a period of
two years at a price of $0.20 per share. The gross proceeds of
$120,000.00 will be spent on general exploration expenditures,
which will constitute qualified Canadian exploration expenditures,
as defined in the Income Tax Act (Canada) and flow-through mining
expenditures on the Company's prospects in Quebec.
The second placement will consist of the issuance of up to
2,500,000 common shares of the Company at a price of $0.06 per
share. Gross proceeds raised of $150,000 will be used for
additional working capital for the Company.
All securities issued pursuant to both private placements will
be subject to a four month hold period trading restriction.
The Company will pay a cash finders' fee of 7% of the gross
proceeds, on the foregoing transactions.
ACTUS MINERALS CORP.
Carl von Einsiedel, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Actus Minerals Corp. Investor Relations 604-678-9639
604-602-9640 (FAX)
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