Komet Resources Inc.: Clarification for the March 27th 2014 Press Release
2014年4月9日 - 8:30PM
Marketwired
Komet Resources Inc.: Clarification for the March 27th 2014 Press
Release
''Non-Disclosure Agreement and Due Diligence for a Burkina Faso
mining property''
QUEBEC CITY, QUEBEC--(Marketwired - Apr 9, 2014) - As requested
by IIROC (Investment Industry Regulatory Organization of Canada)
and in accordance to the regulation in force, Komet Resources Inc.
(TSX VENTURE:KMT) confirm that there is no consideration decided
and no terms or deal are done concerning the property referred.
There is no certainty if an agreement will be concluded to acquire
the property mentioned or any other property.
The Non-Disclosure Agreement and the Due Diligence that were
mentioned in the last press release have been signed to receive all
information that the owners have in their possession and to confirm
as much as possible the data is valid. Also, a Memorandum of
Understanding, considered as a Non-Binding Letter of Intention, was
signed during Mr. Gagné presence in Africa to assure the seller
will wait until June 1st 2014 before the right to negotiate with
any other party.
The Memorandum of Understanding states that:
- The seller will sell all and only assets, including the
production permit and mining equipment
- The buyer will reimburse in totality two loans contracted in
two different banks in Burkina Faso
- The buyer will reimburse all debts to any Burkina Faso
Government's agencies/authorities
- The projected maximum price is 8 million Canadian dollars minus
all debts/charges/taxes/fees/royalties including all future
reclamations
- The seller will receive 1.2% of gold sale over the market price
of 1300$CAN/once up to the price minus charges as explained
previously
- The sale needs to be approved by Komet Resources' Board
- The MOU is valid until June 1st, 2014
A Burkina Faso private company is the owner of the permit which
operated, until July 2013, a small scale mine (according to the
regulation in force in Burkina Faso should be 100 ton per day and
less). There was a feasibility study released in 1997 by European
Mining Finance but not in compliance with 43-101 National
Instrument.
The next steps will be the finalization of the Due Diligence,
the complete study of the project by a Qualified Person (QP) and
the Board's approbation.
Finally, Komet will open a permanent office in Burkina Faso
Capital city, Ouagadougou, as soon as we find an adequate place to
do so.
More information is available at: www.kometgold.com
Neither TSX Venture Exchange nor the regulatory service
provider (as the term is defined in TSX Venture Exchange's
policies) accepts any liability of any kind as to the authenticity
or accuracy of this release. This press release contains statements
that may constitute "forward-looking information" or
"forward-looking statements" as set out within the context of
security law. This forward-looking information is subject to many
risks and uncertainties, some of which are beyond Komet Inc.'s
("Komet") control. The actual results or conclusions may differ
considerably from those that have been set out, or intimated, in
this forward-looking information. There are many factors which may
cause such disparity, especially the instability of metal market
prices, the results of fluctuations in foreign currency exchange
rates or in interest rates, poorly estimated reserves,
environmental risks (stricter regulations), unforeseen geological
situations, unfavorable extraction conditions, political risks
brought on by mining in developing countries, regulatory and
governmental policy changes (laws and policies), failure to obtain
the requisite permits and approvals from government bodies, or any
other risk relating to mining and development. There is no
guarantee that the circumstances anticipated in this
forward-looking information will occur, or if they do occur, how
they will benefit Komet. The forward-looking information is based
on the estimates and opinions of Komet's management at the time of
the publication of the information and Komet does not assume any
obligation to make public updates or modifications to any of the
forward-looking statements, whether as a result of new information,
future events, or any other cause, except if it is required by
securities laws.
Investors relations and informations:Andre Gagne, President and
CEO581-300-1666a.gagne@kometgold.comSkype : andregagne11
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