Champion Bear completes shares for debt settlement

About this update from Champion Bear Resources Ltd.

[{"type":"text","content":"\n\n\n\nCALGARY, May 28 /CNW/ - (TSX Venture: CBA), Champion Bear Resources Ltd.\n("Champion Bear" or the "Company") announced today that it has completed the\nshares for debt settlement with Watts, Griffis and McOuat Limited ("WGM"),\nChampion Bear's consulting geologists, pursuant to which it issued an\naggregate of 1,000,000 common shares at a deemed price of $0.50 per share for\ngeological services in the amount of $500,000 rendered to Champion Bear.\n\n\nAll of the common shares issuable under the shares for debt settlement\nwill be subject to a hold period of four months and one day from the closing\ndate.\n\n\nChampion Bear is a mineral exploration company focused exclusively on the\nhistorically prospective regions of Ontario. The Company's primary target is\nplatinum group and precious metals and to a lesser extent polymetallic base\nmetal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create\nshareholder value through selective property acquisition and joint venture\nfollowed by focused exploration emphasizing drilling. The Company has\nassembled a large land position in the Dryden and Sudbury areas, totaling over\n16,000 hectares.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1392,"tagName":"div"}]

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