92 Resources Closes Property Purchase Agreement
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92 Resources Closes Property Purchase Agreement
Vancouver, September 20, 2016 - 92 Resources Corp. (the Company) (TSX.V: NTY) (FSE: R9G2) announces that the TSX Venture Exchange has accepted for filing the Property Purchase Agreement dated July 25, 2016, among 92 Resources Corp. (the Company), DG Resource Management (DG) & Michael V. Sklavenitis (MS), and the Company has therefore completed the purchase of a 100% interest in the Pontax Lithium Property, Eastmain Area, Quebec (the Property).
In consideration for a 100% interest in the Property, the Company will issue 3,000,000 common shares and make cash payments totalling $50,000 over a 12-month period to the Vendors as follows: $12,500 cash to DG on execution, 1,000,000 shares to DG and 500,000 shares to MS were issued on Exchange approval (Approval), $12,500 cash to DG within 60 days of Approval, $25,000 cash to DG at one year from Approval, and 1,000,000 shares to DG and 500,000 shares to MS at one year from Approval. The Agreement is subject to a 3% NSR in favor of DG which the Company has the right to purchase 50% within 5 years for $2,000,000. There is no Finder fee payable in connection with the transaction.
The Company acquired the Pontax property as a secondary property and will continue to focus all near term exploration and development efforts at its wholly owned Hidden Lake Lithium Property, NT. The Company does not anticipate conducting any field exploration at Pontax, QC until at least mid-2017.
For further information, please contact Adrian Lamoureux, President & CEO, Tel: 778-945-2950 adrian(at)92resources.com or visit www.92resources.com
On behalf of the Board of Directors,
ADRIAN LAMOUREUX
Adrian Lamoureux, President & CEO
Suite 1400 - 1111 W. Georgia St.
Vancouver, BC, V6E 4M3
Tel: (778) 945 2950 Fax: (604) 689 8199
www.92resources.com
Trading Symbol: TSX.V: NTY
Frankfurt: R9G2 (WKN: A11575)
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, forwardlooking statements. Forwardlooking statements may be identified by words including anticipates, believes, intends, estimates, expects and similar expressions. The Company cautions readers that forward looking statements, including without limitation those relating to the Companys future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forwardlooking statements.
Leseranfragen:
An emerging junior explorer focused on acquiring and advancing underexplored and overlooked energy assets on a global scale. Currently advancing it’s 100% interest in the Zim Frac claim group, a high purity silica / quartz property in southeastern British Columbia.
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Sprache: Deutsch
News-ID 495788
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