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Sultan Minerals and Margaux Resources Amend Option Agreement Regarding the Purchase of the Jersey Emerald Property
(via Thenewswire.ca) Vancouver, BC / TheNewswire / December 31 2015 - Sultan Minerals ...
About this update from Apex Resources Inc.
[{"type":"text","content":"Sultan Minerals and Margaux Resources Amend Option Agreement Regarding the Purchase of the Jersey Emerald Property(via Thenewswire.ca)\n\n \nVancouver, BC / TheNewswire / December 31 2015 - Sultan Minerals Inc. (\"Sultan\" or the \"Company\") (TSX-V: SUL) announces that it has entered into an agreement (the \"Amending Agreement\") with Margaux Resources Ltd. (TSX Venture: MRL) (\"Margaux\") to amend the option agreement dated November 8, 2013 between Sultan and Margaux, as amended on each of January 22, 2014 and October 26, 2015 (the \"Option Agreement\"), granting Margaux an option to purchase 100% of the Jersey Emerald Property for payments totaling $4 million according to terms set therein.\n\n\n \nPursuant to the Amending Agreement, aggregate option payments (the \"Option Payments\") in the amount of $1,600,000 due on December 31, 2015 will become payable on February 28, 2016. Additionally, the Amending Agreement requires that Margaux announce possible financing arrangements in order to make the Option Payments by not later than January 25, 2016. All other terms of the Option Agreement remain unchanged.\n\n\n \nFor further information on the Company's projects, visit www.sultanminerals.com.\n\n \n \nArthur G. Troup, P.Eng., Geological\n\n\n \nPresident and CEO\n\n \n \nFor further information please contact:\nMarc Lee, Investor and Corporate Communications\nTel: (604) 628-0519 Fax: (604) 628-0446 \nEmail: [email protected] or [email protected]\n\n \n \nThis release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed \"forward-looking statements.\" All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking sta...