Business
Canadian International Minerals Inc. To Acquire Proprietary Database From Kaminak Gold Corp.
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / January 22, 2016 - ...
About this update from Egr Exploration Ltd
[{"type":"text","content":"Canadian International Minerals Inc. To Acquire Proprietary Database From Kaminak Gold Corp.(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TheNewswire / January 22, 2016 - Canadian International Minerals Inc. (the \"Company\") (TSX-V: CIN) is pleased to announce it has entered into an agreement to acquire an extensive proprietary database from Kaminak Gold Corp. (\"Kaminak\") (TSX-V: KAM), pertaining to the Company's recently acquired Lac Manitou Ni-Cu-PGM property in Quebec, for which Kaminak is the previous operator.\n\n \n \nThe database includes raw airborne magnetic and EM data, as well as an interpretive report by Grant Lockhart of Petra Geophysical Consulting Inc. The Company believes the targets detailed in this report, which have never been drilled, represent excellent quality targets for Ni-Cu-PGM mineralization.\n\n\n \n\nTransaction Terms\n\n\n \n\nUnder the terms of the agreement, the Company will issue 3,500,000 units to Kaminak, each unit consisting of one common share and one share purchase warrant, each warrant exercisable into one additional common share at a price of $0.10 per share for a period of 3 years.\n\n \n \nIn addition, the Company has granted Kaminak a 1% NSR on the Lac Manitou property, which includes an area of interest corresponding to the spatial extents of the database.\n\n \n \nThe transaction is subject to approval of the TSX Venture Exchange.\n\n \n \n\nQualified Person\n\n \n \nThe technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the terms of N.I. 43-101.\n\n \n \nFor further information, please contact:\n\n \n \nCanadian International Minerals Inc.\n\n\n \nMichael E. Schuss\n\n\n \nPresident and CEO\n\n\n \nPhone: 604-241-2254\n\n \n \nWebsite: www.cin-v.com\n\n \n \nForward-looking Information\n\n \n \nThis news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the unce...