Rainbow Resources Announces Completion of Tin City Acquisition
2013年12月18日 - 12:52AM
Access Wire
Mr. David W. Johnston reports:
TORONTO, ONTARIO - (December
17, 2013) Rainbow Resources Inc. ('Rainbow' or 'the Company') (TSX
VENTURE:RBW)(OTC:RIINF) announces that it has completed the
acquisition of the Tin City Property by submitting the final option
payment of $6,000 to the former owners of the Tin City claims
adjacent to its high-grade lead/silver International Property in
the West Kootenays, BC. The claims comprise a total of 820 hectares
and their location can be viewed in Figure 1 below.
Figure 1 -
Property Location Map
![](http://www.thenewswire.ca/client_files/tnw90D4rM_.png)
Click Image To View Full Size
The Tin City agreement, dated
July 11, 2011, was originally made with Braveheart Resources Canada
Inc. (acquired by Rainbow in October, 2011). The agreement was
amended on July 31, 2013. Highlights of the agreement were as
follows:
-
1.Cash payments
totalling $30,000 during the period July 1, 2011 to December 1,
2013;
-
2.A total of
225,000 Rainbow common shares during the period July 1, 2011 to
November 1, 2013;
-
3.A 2% NSR payable
upon the initiation of commercial production on the property
and,
-
4.Rainbow has the
option of reducing the NSR to 1% by making a $500,000 cash payment
to the former owners.
About Rainbow
Resources:
Rainbow is a Canadian based junior exploration company
focused on building shareholder value through aggressive
exploration in two favourable and proven mining jurisdictions - the
West Kootenays in southeast British Columbia (silver, gold and
flake graphite), and Nevada where Rainbow's Jewel Ridge gold-silver
project is in the heart of a major producing district. Rainbow's
shares are listed on the TSX Venture Exchange under the symbol
TSX-V:RBW and on the OTC under the symbol RIINF.
Rainbow currently has 47,820,052 common shares issued and
outstanding.
Contact:
Rainbow Resources Inc.
David W. Johnston
President
(403) 701-2781
info@rainbowresourcesrbw.com
Website: www.RainbowResourcesRBW.com
Rainbow on Video: http://www.rainbowresourcesrbw.com/video/
Follow
Rainbow:
Twitter: https://twitter.com/RainbowResource
Facebook: https://www.facebook.com/RainbowResources
Caution Regarding Forward-Looking Information
This news release includes certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, statements about strategic plans, future work
programs and objectives and expected results from such work
programs. Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown
risks,(more)uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking information and the
risks identified in the Company's continuous disclosure record.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
information.
All forward-looking information contained in this news release
is given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as
at the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
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 of this
news release.
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