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AAC

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Share Name Share Symbol Market Type
TSXV:AAC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Actus Minerals Property Acquisition-Proposed Financings

24/12/2010 7:06pm

Marketwired Canada


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

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