Bacanora Announces Notice of Second Stage Option Exercise by Rare Earth Minerals Under Joint Venture Agreement #2
2014年5月27日 - 6:48AM
Marketwired
Bacanora Announces Notice of Second Stage Option Exercise by Rare
Earth Minerals Under Joint Venture Agreement #2
CALGARY, ALBERTA--(Marketwired - May 26, 2014) - BACANORA
MINERALS LTD. ("Bacanora" or the "Company") (TSX-VENTURE:BCN)
announced today that Rare Earth Minerals, Plc ("REM"), has provided
written notice of the exercise its second stage option in respect
of Joint Venture #2, confirming its desire to increase its
ownership therein from 10% to 30%. In accordance with the Company's
agreement with REM, the Company has received a payment of
US$500,000 as part of this option exercise. REM now has up to six
(6) months to provide an additional US$1 million, which is to be
used for exploration and drilling expenditures over the following
year. Upon receipt of this additional US$1 million, REM will have
completed its second stage option exercise and will be entitled to
an additional 20% stake in Bacanora's subsidiary that will hold the
concessions under the Joint Venture #2. Joint Venture #2 applies in
respect of the San Gabriel, Buenavista and Megalit concessions. For
more information on Joint Venture #2, please refer to the Company's
press release dated March 12, 2014.
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Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
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actual results achieved will be the same, in whole or in part, as
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Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
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information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
commodity price volatility; general economic conditions in Canada,
the United States, Mexico and globally; industry conditions,
governmental regulation, including environmental regulation;
unanticipated operating events or performance; failure to obtain
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and when required; the availability of capital on acceptable terms;
the need to obtain required approvals from regulatory authorities;
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should not be construed as exhaustive.
The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our
expectations except as otherwise required by applicable securities
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forward-looking information.
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.
Bacanora Minerals Ltd.Shane ShircliffChief Executive
Officer(306) 649-0602Bacanora Minerals Ltd.Martin
VidalPresident(+52 662) 210-0767www.bacanoraminerals.com
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