VANCOUVER, Feb. 9 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) advises that it has reached an arms-length agreement to sell its 2% net smelter returns royalty on gold production at the Virgen Mine in Peru in return for payments totalling US$ 1,500,000. Under the terms of the agreement, Gitennes will receive an initial payment of US$ 700,000 followed by four equal payments of US$ 200,000 with the last payment being due no later than May 18, 2007.
Cautionary Statement Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements, such as statements that describe or infer future plans, intentions, objectives or goals, including words to the effect that Gitennes or management expects a stated condition or result to occur and specifically Gitennes' anticipation that its royalty payments will be continue to be received. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond Gitennes' ability to control or predict. Actual results and developments may differ materially from those contemplated by such forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the
information herein.