Green Swan Closes on ElDee in B.C.'s Golden Triangle
(firmenpresse) - BURLINGTON, ONTARIO -- (Marketwire) -- 02/13/12 -- Green Swan Capital Corp. ("Green Swan") (TSX VENTURE: GSW) is pleased to announce it has received regulatory approval for its previously announced contemplated acquisition of three additional mining tenures in north British Columbia's Golden Triangle and that it closed on these tenures today. These three non-contiguous mining tenures covering 1,249 hectares are jointly referred to as "ElDee".
"This acquisition is a key step in executing our board's strategy of assembling a focussed portfolio of high-impact Canadian exploration assets," said Peter M. Clausi, Green Swan's President and CEO. "Green Swan will continue to look to acquire exploration assets that fit within our acquisition parameters."
ElDee
ElDee consists of three non-contiguous mining tenures covering 1,249 hectares, contiguous with NGEx Resources Inc.'s GJ Project. Under an option agreement with Teck Resources Limited, Teck has the right to earn an initial 51% interest by spending $12,000,000 on GJ (including but not necessarily limited to the Donnelly Zone) by December 31, 2014, and up to a 75% interest by spending an aggregate of $44,000,000 by December 31, 2020.
Two of ElDee's tenures are immediately to the south of where Teck effected diamond drilling on the Donnelly Zone in 2011. Details of this drilling can be found at NGEx's website and at SEDAR.
The Agreement
Subject to a Net Smelter Royalty, Green Swan has purchased a 100% interest in ElDee in consideration of the issuance of 180,000 shares (at an agreed price of $0.15 per share), 75,000 Warrants (more particularly described below), and $20,000 cash. Each Warrant has a twelve-month term, is non-transferable, is subject to industry standard adjustments, and entitles the holder to purchase one fully paid Green Swan common share at an exercise price of fifteen cents ($0.15). ElDee is covered by the same Net Smelter Royalty as was described in Green Swan's press release of January 31, 2012.
About Green Swan Capital Corp.
Green Swan is engaged in the exploration and, if warranted, development and mining of its properties as well as the acquisition, exploration and potential development of other mineral resource properties. Green Swan communicates with its shareholders and the investing public directly and with the assistance of CHF Investor Relations. The common shares of Green Swan are listed on the TSX Venture Exchange under the same trading symbol "GSW". GSW has 16,791,417 shares outstanding.
To receive Green Swan news by email contact with "Green Swan News" in the subject line.
Forward-Looking Statements
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.
Neither the 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.
Contacts:
Green Swan Capital Corp.
Peter M. Clausi
416 890 1232
CHF Investor Relations
Cathy Hume
416 868 1079 Ext 231
CHF Investor Relations
Stephanie Fitzgerald
416 868 1079 Ext 222
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Datum: 13.02.2012 - 21:00 Uhr
Sprache: Deutsch
News-ID 114018
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BURLINGTON, ONTARIO
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