Canadian Orebodies Gives Notice to Exercise Carlisle Put Right
2014年4月28日 - 10:00PM
Marketwired
Canadian Orebodies Gives Notice to Exercise Carlisle Put Right
TORONTO, ONTARIO--(Marketwired - Apr 28, 2014) - Canadian
Orebodies Inc. (TSX-VENTURE:CO) ("Orebodies" or the "Company")
announces that it has given written notice to Carlisle Goldfields
Limited ("Carlisle") to exercise Orebodies' Put Right to transfer
its 10% non-diluting interest in the Farley Lake Mine Project back
to Carlisle in exchange for 8,000,000 shares of Carlisle. The
transaction is expected to be completed before May 8, 2014.
"Orebodies has made the decision to exercise its Put Right now
as Carlisle holds a Back-In Right, which would most likely be
exercised prior to its expiry due to the robust economics of the
Farley Lake Project," commented Gordon McKinnon, President and CEO
of Orebodies. "This exercise will give Orebodies more flexibility
going forward while allowing the Company to continue to benefit
from Carlisle's advancement of their Lynn Lake camp through our
large share holding."
Administration
The company also announces that it has granted incentive stock
options to directors, officers and consultants of the company in
the aggregate amount of 4,925,000 shares under the terms of the
incentive stock option plan of the company. The options are
exercisable at a price of 5 cents per share for a period of five
years and are subject to a four-month hold period from the date of
the issuance thereof.
About Canadian Orebodies Inc.
Canadian Orebodies is a Canadian-based mineral exploration
company with a portfolio of properties in Nunavut, and Ontario.
Canadian Orebodies trades on the TSXV under the symbol "CO". For
more information please visit www.canadianorebodies.com.
Canadian Orebodies Inc.Gordon McKinnonPresident & CEO(416)
644-1747www.canadianorebodies.com
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