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Sulliden Mining Capital announces acquisition of common shares of Falco Resources
TORONTO , Sept. 5, 2014 /CNW/ - Sulliden Mining Capital Inc. (TSX: SMC) ("Sulliden" or th...
About this update from Future Mineral Resources Inc.
[{"type":"text","content":"\n\nTORONTO, Sept. 5, 2014 /CNW/ - Sulliden Mining Capital Inc. (TSX: SMC) (\"Sulliden\" or the \"Company\") announces that by share purchase agreement with QMX Gold Corporation (QMX: TSXV), it has agreed to acquire 1,180,505 common shares (the \"Purchased Shares\") of Falco Resources Ltd. (\"Falco\") at $0.45 per share for an aggregate purchase price of $531,227.25, representing approximately 1.6% of the issued and outstanding common shares of Falco. \n\nIn addition, Sulliden intends to acquire, subject to the policies of the TSX Exchange, an additional 965,868 common shares (the \"Escrowed Shares\") of Falco that are subject to an escrow agreement at a price of $0.27 per common share. \n\nInvestment \n\nNeither Sulliden, nor any other persons acting jointly or in concert with Sulliden, previously held any other securities of Falco. \n\nSulliden intends to hold the Falco common shares for investment purposes. Other than the Purchased Shares and the Escrowed Shares, Sulliden has no current intention to increase the beneficial ownership of, or control or direction over, additional securities of Falco. \n\nAbout Falco Resources Ltd. \n\nFalco is a resource exploration company and owner of mineral rights to 14 former mines within a 700 km2 land package in the Abitibi region of Québec, Canada. Falco's principal property is the Horne mine complex, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an initial inferred resource totaling 25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au contained (see Falco's press release dated March 4, 2014 for more details). \n\nAbout Sulliden Mining Capital\n\nSulliden Mining Capital is a venture capital company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas. \n\nSulliden Mining Capital Inc. On behalf of the Board\"Justin Reid\"President & Chief Executive Officer\n\nCautionary statement regarding forward-looking information\n\nThis press release contains \"forward looking information\" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the acquisitio...