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Richmond Minerals Announces Closing of Fundamental Acquisition
Richmond Minerals Announces Closing of Fundamental Acquisition Canada NewsWire T...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Announces Closing of Fundamental Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 12, 2020\n\n\n\nTORONTO, March 12, 2020 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\" or the \"Company\")  is pleased to announce, further to its news release of November 7, 2019, that the Company has completed its \"Fundamental Acquisition\" (as such term is defined in TSXV Policy 5.3), whereby it purchased a contiguous group of 99 mineral claim units, referred to as the Oberzeiring Polymetallic Mine Project (the \"Mine\").\n\n \n \n \n \n \n \n\n \nUnder the terms of the definitive agreement, the Company issued forty-million (40,000,000) common shares (the \"Payment Shares\") in the capital stock of the Company to Silbermine Zeiring Gmbh (\"Silbermine\") for the purchase of the Mine. The Payment Shares will be subject to a four-month and one day hold period.\nThe Mine claims cover an area of more than 3,000 hectares and are located near the town of Oberzeiring in the province of Styria, approximately 80 kilometers northwest of Graz, Austria. Richmond plans an exploration program starting in the early spring 2020. The working program will include structural & geochemical analyses, geophysical surveying followed by diamond drilling of identified targets.\nFranz Kozich, Richmond's CEO, commented, \"It is exciting for management and shareholders to complete this acquisition of the Mine property centrally located within the Styria mining district, which has a rich history of silver, gold and industrial mineral production. Richmond plans on mounting a substantial exploration program using modern exploration techniques at depth and along strike from the historical Mine workings, something which has never been undertaken before.\" \nA National Instrument 43-101 geological report for the Oberzeiring Polymetallic Mine Project dated January 10, 2020 has been prepared in connection with the Fundamental Acquisition and has been filed on the Company's SEDAR profile at www.sedar.com.\nEarly Warning Report\nOn com...