Driven Capital (TSX.V - DVV) Resumed Trading after Completing its Qualifying Transaction - Video Highlights Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 6, 2011 - Driven Capital Corp., (TSX.V -
DVV) resumed trading on Tier 2 of the TSX Venture Exchange after obtaining
Exchange approval of its Qualifying Transaction.
InvestmentPitch.com has posted a video discussing this transaction, which can be
viewed by clicking here. If this link is not enabled, please visit
www.investmentpitch.com and enter "Driven" in the search box.
Back in December, Driven Capital entered into an agreement with Ansell Capital,
(TSX.V - ACP), for the exclusive option to acquire up to a 100% interest in
Ansell's Kuyakuz Property. The Kuyakuz Mountain Property covers a total of
6,434 hectares and consists of 15 contiguous mineral claims, located in the
Omineca mining division, approximately 125 kilometres southeast of the
municipality of Vanderhoof.
Driven Capital's property is adjacent to the eastern boundary of Richfield
Venture's (TSX.V RVC) Blackwater Project, and is located only 8 kilometres from
Richfield's discovery area.
If the Blackwater Property sounds familiar, it's probably because New Gold
recently acquired Richfield Ventures in a friendly $550 million deal, based on
the potential of their Blackwater property.
In a conference call with analysts, Randall Oliphant, New Gold's (TSX - NGD)
executive chairman stated "The project is in British Columbia, in a good
location, near infrastructure. This adds a large, advanced stage exploration
gold asset into the New Gold portfolio."
A report from Nathan Pearson of Resourcexinvestorinvestor
(www.resourcexinvestor.com) calls the Blackwater Project one of the most
important new gold discoveries in Canada, having already proved up 4 million
ounces of gold, with mineralization remaining open in all directions.
Under the terms of their agreement with Ansell Capital, Driven Capital can
acquire an undivided 70% interest in Kuyakuz for aggregate cash, share issuances
and exploration expenditures of $160,000,800,000 shares, and $1,000,000
respectively over three years.
Driven Capital also has a further option to acquire the remaining 30% undivided
interest in Kuyakuz by issuing to Ansell an additional 1.2 million shares on or
before the 4(th) anniversary of the closing of the transaction.
Concurrently with its Qualifying Transaction, driven has completed a non-
brokered a non-brokered private placement for gross proceeds of $823,500
(increased from $750,000). All the shares issued in the private placement and
any resulting shares issued upon the exercise of any warrants will be subject to
a hold period expiring on July 31, 2011. Net proceeds from the private placement
will be utilized to fund the proposed work program on the Kuyakuz Mountain
Property and for working capital.
After being halted for an extended period while the exchange reviewed the
agreement, the shares closed at $0.29, up $0.19.
For a more information on Driven Capital please visit their website at
www.drivencapital.ca, phone 604-569-0799 or email info(at)drivencapital.ca
CONTACT:
Driven Capital Corp.
Toma Sojonky, President & CEO
604-569-0799
info(at)drivencapital.ca
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1504186]
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Datum: 06.04.2011 - 19:26 Uhr
Sprache: Deutsch
News-ID 53241
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