Business
Consolidated Global Diamond Corp. - Option Agreement Approved and Drilling commences at Courageous Lake
Consolidated Global Diamond Corp. - Option Agreement Approved and Drilling commences at Courageous Lake.
About this update from Fitzroy Minerals Inc
[{"type":"text","content":"\n\n\n\n\nTSX-V Symbol: CK \n\nVANCOUVER, April 27 /CNW/ - Consolidated Global Diamond Corp. (the\n\"Company\") is pleased to announce that further to its previous news release\ndated March 29, 2005, the TSX Venture Exchange has accepted for filing an\noption agreement between the Company and Diamond Hawk Mining Corp., whereby\nthe Company may acquire up to fifty-one percent (51%) interest in the\nCourageous Lake property (the \"property\") that is located in the Mackenzie\nmining district northeast of Yellowknife. Consideration is $150,000, 800,000\nunits of the company (each unit comprises one common share and one share\npurchase warrant, the exercise price of the first warrants shall equal the\nclosing trading price on the day of the announcement plus a fifty percent\n(50%) premium and for future issuance, the exercise price of the warrant shall\nbe equal to the trading price of the Company's shares on the day of issue plus\n10 percent (10%) for a term of one year from the issuance date), and\nconducting a drill program and the expenditures of total of $4.5 million on\nexploration over a four year term.\nThe Company has paid $100,000 and issued 100,000 common shares to Diamond\nHawk Mining Corp. These shares are subject to a four-month hold period\nexpiring August 27, 2005.\nThe Company has commenced a drilling and sampling program on the\nproperty.\n\nOn Behalf of the Board of Directors\nConsolidated Global Diamond Corp.\n\n\"Simon Tam\"\nSimon Tam\nDirector\n\nDisclaimer:\n\nTHE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE\nCONTENTS HEREIN.\n\n\n\n\n\n","length":1631,"tagName":"div"}]