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Deep-South Resources Has Issued 4.2 Million Shares for the Acquisition of 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey
(via TheNewswire) Vancouver, B.C., Canada / TheNewswire / October 16, ...
About this update from Koryx Copper S.a.
[{"type":"text","content":"Deep-South Resources Has Issued 4.2 Million Shares for the Acquisition of 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / October 16, 2018 - Deep-South Resources Inc. (\"Deep-South\" or \"the Company\") (TSX-V: DSM) announces that it has issued 3.5 million shares to Jeanette Gyldstoff Borg (\"Seller\") for the acquisition from Jeanette Gyldstoff Borg of 75% of RCR Quantum (\"Quantum\"), a Turkish company, which holds the Kapili Tepe project (\"Project\") comprising of one (1) mining license and two (2) exploration licenses in the Sivas Province in the North Central part of Turkey. Furthermore, Deep-South has issued 700,000 to Afrasia Mining & Energy Investment Holdings Ltd (\"Afrasia\") for the acquisition of all the exploration and metallurgical data of the project.\n\n \n \nThe shares will remain \"in trust\" with Deep-South's legal advisers until the Ministry of Energy and Natural Resources of Turkey (\"Ministry\") has notified its acceptance for the transfer of the shares of Quantum. The procedure for the acceptance is well advanced.\n\n \n \nIn the mean time, Deep-South's technical team will start planning the exploration program that will lead to a resource estimation report compliant with the NI 43-101.\n\n \n \nThe full terms of the acquisition can be seen in the press release of the company dated September 19, 2018 at the following link: https://www.deepsouthresources.com/investors/news-releases/deep-south-resources-amend-the-agreement-to-acquire-75-of-the-kapili-tepe-copper-nickel-cobalt-and-gold-project-in-turkey/\n\n \n \nAll securities issued pursuant to the Agreement will be subject to a holding period of four months and a day from the date of issuance.\n\n \n \nMr. John Akwenye, Chairman of Deep-South stated, \"We are very enthusiastic with this transaction. We are securing a large area in the heart of a highly prospective area in one of the most mining friendly countries in the world. Kapili Tepe is a high-quality asset that adds strong value for our shareholders.\"\n\n \n \nAbout the Kapili Tepe Project: \n\n \n \nThe Project is located close to Imranli in the province of Sivas in north-east Central Turkey, approximately 500Km due east from Ankara by good asphalt roads. The Kapili Tepe project is situated within Tethyan ...