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Pembroke Capital Corp. Announces Proposed Qualifying Transaction
Jun. 21, 2011 (Newsfile Corp.) -- Vancouver, British Columbia--(June 21, 2011) - Pembroke Ca...
About this update from Q2 Metals Corp
[{"type":"text","content":"\nPembroke Capital Corp. Announces Proposed Qualifying Transaction\n\n Jun. 21, 2011 (Newsfile Corp.) -- Vancouver, British Columbia--(June 21, 2011) - Pembroke Capital Corp. (TSXV: PBK.P)(\"Pembroke\" or the \"Company\"), a capital pool company, is pleased to announce that it has entered into a letter agreement dated June 6, 2011 (the \"Letter Agreement\") for the acquisition (the \"Transaction\") of Minfocus International Ltd. (\"Minfocus\"), a private federal corporation. Pembroke is a capital pool company and the Transaction is intended to constitute Pembroke's qualifying transaction (\"Qualifying Transaction\") under Policy 2.4 of the TSX Venture Exchange (the \"Exchange\"). The Transaction is not a non arm's length transaction and accordingly is not expected to be subject to the approval of Pembroke shareholders. About Minfocus Minfocus is a mining exploration stage company principally engaged in the business of exploring and developing base (copper, nickel) and platinum-group element (PGE) metal mineral properties. Minfocus currently holds an interest in several properties in the Thunder Bay Mining Division of Northwestern Ontario, including the Nipigon Reefs Property and Weese Lake Property (the \"Properties\"), each of which have a recent 43-101 report recommending phased work programs of $1,191,000 and $1,297,000, respectively. The 43-101 reports were prepared by Mr. David Burga, P.Geo. The Qualified Person who has reviewed the technical content contained in this release is Dr. Gerald Harper, P.Geo. (Ont). The Nipigon Reefs Property is located approximately 80 kilometers north-northeast of Thunder Bay and is accessible by road. The overall property covers 1,161 claim units representing approximately 18,576 hectares. The focus of the Nipigon Reefs Property is an extensive sheet of mid Proterozoic diabase that has been shown to contain ultramafic feeder zones within. Two of these zones, the Springlet Lake Prospect and the Seagull Prospect, have been shown to be associated with copper, nickel and PGEs, The Springlet Lake area had an initial twelve drill holes completed in 2010 of which eight of these holes intersected a flat lying altered ultramafic sill of mid Proterozoic age which showed slightly anomalous value for copper, nickel and PGE in assayed samples of the sill but only one hole had a more substantial value with...