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GUYANA PRECIOUS METALS AGREES TO PURCHASE AREMU, PETERS AND ARAKAKA PROPERTIES FROM GUYANA GOLDFIELDS
Apr. 26, 2011 (Canada NewsWire Group) -- TORONTO, April 26 /CNW/ - GUYANA PRECIOUS METALS IN...
About this update from Gpm Metals Inc.
[{"type":"text","content":"\n\n\n Apr. 26, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, April 26 /CNW/ - GUYANA PRECIOUS METALS INC. (TSXV: GPM) ("GPM") announces that it has entered into an agreement (the "Peters and Aremu Agreement") with Guyana Goldfields Inc. ("GGI") pursuant to which GPM has agreed to purchase and GGI has agreed to\n sell GGI's 100% interest in the Peters property and Aremu property\n (collectively, the "Peters and Aremu Properties") located in Guyana, South America for US$2,400,000 payable in cash\n upon closing (the "Peters and Aremu Transaction").\n\n\nGPM has also agreed to enter into an agreement (the "Arakaka Agreement") to purchase and GGI has agreed to sell GGI's 70.1% participating\n interest in the Arakaka property (the "Arakaka Property") located in Guyana, South America for US$3,734,000 and a 1% net\n smelter royalty in favour of GGI on the GGI's participating interest\n (the "Arakaka Transaction").\n\n\nThe Peters property consists of approximately 8,358 acres and the Aremu\n property consists of approximately 9,134 acres. The Arakaka Property\n consists of approximately 77,000 acres.\n\n\nGPM formed an independent committee of its board of directors to\n consider the terms of the Peters and Aremu Transaction and the Arakaka\n Transaction (collectively the "Transactions").  In addition, the independent committee retained Cormark Securities\n Inc. ("Cormark&quo...