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HMI Hinterland Metals Inc.

0.15
0.00 (0.00%)
20 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hinterland Metals Inc. TSXV:HMI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.15 0.145 0.18 0 01:00:00

Hinterland Options Teck-Kirkland Property in Ontario to Opawica

14/09/2012 9:44pm

Marketwired Canada


Hinterland Metals Inc. (TSX VENTURE:HMI) is pleased to announce that, subject to
the acceptance of the TSX Venture Exchange, it has entered into an agreement
(the "Agreement") with Opawica Explorations Inc. (TSX.V: OPW) ("Opawica")
whereby Opawica has been granted an option (the "Option") to acquire a 100%
interest in 46 mineral claims located near Kirkland Lake in northeastern
Ontario, collectively known as the Teck-Kirkland Property (the "Property").
Various of the claims are subject to certain underlying royalties and a portion
of the Property is subject to a 2% NSR in favour of Hinterland, one-half of
which can be purchased by Opawica for $1,000,000 within five years of the date
the Agreement is accepted by the TSX Venture Exchange (the "Acceptance Date"). 


In order to exercise the Option, Opawica is required to pay Hinterland a total
of $125,000, issue it a total of 3,000,000 shares of Opawica (the "Shares") and
incur a total of $1,000,000 in work expenditures, all over a period expiring
November 30, 2016. Of these amounts, $25,000 is to be paid and 150,000 of the
Shares are to be issued forthwith following the Acceptance Date and the initial
$125,000 of the work expenditures, to be incurred prior to November 30, 2013,
constitutes a firm commitment of Opawica.


Follow Hinterland on:

- Facebook: http://www.facebook.com/hinterlandmetals  

- Twitter: http://twitter.com/hinterland_hmi 

- Youtube: http://www.youtube.com/user/HinterlandMetals 

- Flickr: http://www.flickr.com/photos/hinterlandmetals/

This release may contain forward-looking statements that are subject to known
and unknown risks and uncertainties that could cause actual results to vary
materially from targeted results. Such risks and uncertainties include those
described in the Company's periodic reports including the annual report or in
the filings made by the Company from time to time with securities regulators.
The Company undertakes no obligation to publicly release the result of any
revision of these forward-looking statements to reflect events or circumstances
after the date they are made or to reflect the occurrence of an unanticipated
event.


Shares Issued 24,594,614

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