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WYM Waymar Resources Ltd

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Share Name Share Symbol Market Type
Waymar Resources Ltd TSXV:WYM 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 -

Waymar Resources Announces Property Acquistion

03/03/2010 7:32pm

Marketwired Canada


Waymar Resources Ltd. (TSX VENTURE:WYM) ("Waymar" or the "Corporation") is
pleased to announce that it has entered into a letter of intent with a group of
persons that are arms length to Waymar (the "Vendors") pursuant to which Waymar
will be granted the option to acquire up to a 100% legal and beneficial interest
in the Anza project comprised of mineral rights located on the easter-most
margin of Colombia's Western Cordillera, 50km west of Medellin. In order to
exercise its option, Waymar is required to make payments to the Vendors
aggregating US$3.8 million over a three year period (of which US$50,000 is
payable on the date of execution of the letter of intent and US$250,000 is
payable on execution of a definitive agreement), issue 3,800,000 common shares
to the Vendors over a three year period (of which 300,000 common shares are to
be issued on execution of a definitive agreement) and make expenditures on the
property aggregating US$4 million over a three year period (of which US$500,000
must be expended in the first year). The Vendors will retain a 2% net smelter
return royalty on the property, 50% of which may be purchased by Waymar for
US$1,000,000.


The agreement is subject to Waymar and the Vendors executing a definitive option
agreement on or prior to May 20, 2010 and receipt of any required regulatory
approvals, including, without limitation, the approval of the TSX Venture
Exchange.


1 Year Waymar Resources Ltd Chart

1 Year Waymar Resources Ltd Chart

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1 Month Waymar Resources Ltd Chart