Business
Announcement in respect of Lara Property
Announcement in respect of Lara Property.
About this update from Regenx Tech Corp
[{"type":"text","content":"\n\n\n\nTSXV: SRW\n\n\nFrankfurt: A0BLQQ\n\n\nEDMONTON, Oct. 17 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company")\nannounced today that Lara Exploration Ltd. ("Lara") has delivered to Solid\ncorrespondence pursuant to which Lara has purported to terminate the parties'\nbinding letter agreement dated November 1, 2005 (the "Option Agreement") for\nfailing to reach certain milestones relating to drilling expenditures. Under\nthe Option Agreement, Solid could acquire majority ownership of a\n1,800 hectare (4,447 acres) copper property in Peru known as the Lara\nproperty.\n\n\nSolid has advised Lara that it is not in breach of the Option Agreement\nand therefore Lara has no grounds to terminate. Solid has further advised Lara\nthat it will take all steps necessary to enforce the Option Agreement.\n\n\nGarnet Harter, interim President and CEO of Solid, said, "Since 2005 when\nwe entered into this agreement to further explore the potential of the Lara\nproperty, we have paid Lara over $590,000 and the price of copper has almost\ndoubled. Our position is that we expended the required funds in accordance\nwith the terms of the agreement and we intend to vigorously challenge any\nattempt by Lara to terminate."\n\n\n------------------------------------------------------------------------\n\n\nCertain statements contained in this press release, including statements\nwhich are related to exploration activity and future prospects and\nprofitability and which may contain words such as "could", "should", "expect",\n"believe", "will" and similar expressions and statements relating to matters\nthat are not historical facts are forward-looking statements. Such\nforward-looking statements involve known and unknown risks and uncertainties\nwhich may cause the actual results, performances and/or achievements of Solid\nto be materially different from any future results, performances or\nachievements expressed or implied by such forward-looking statements. Such\nfactors include fluctuations in the market conditions and prices of tantalum,\nlithium, tin, silver and other metals and related products and services;\ncompetition; political and economic conditions in countries in which Solid\ndoes business; changes in laws and regulations, including envi...