Business
Canyon Copper Closes Sale of Moonlight Property
Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) is pleased to announce that it has completed the sale of the Moonlight Prope
About this update from Searchlight Resources Inc.
[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. (\"Canyon\") (TSX-V: CNC) is pleased to announce that it has completed the sale of the Moonlight Property to Crown Mining Corp. (“Crown”). Canyon received an exercise notice from Crown to acquire a 100% undivided right, title and interest in its Moonlight property (the “Property”) located in Plumas County in northeast California, USA. The Property option agreement was entered into with Crown in February 2016 (See press release dated February 29, 2016) providing Crown with the option to acquire the Property at any time on or before the 36-month anniversary of the agreement. Pursuant to the terms of the agreement, total cash consideration of $375,000 was paid by Crown to Canyon along with 2,750,000 shares of Crown. The final payment of $350,000, which is included in the total cash consideration of $375,000, was paid in escrow on February 26, 2018, and released on Mach 5, 2018, once all of the claims were transferred into Crown’s name. As announced in Canyon’s news release dated February 26, 2018, Canyon is carrying out a 4 hole diamond drilling campaign on its Bootleg Property, located near Creighton, Saskatchewan, Canada. The focus of the drill campaign is to test two high priority gold targets, being the past producing Newcor and Rio gold mines. On behalf of the Board of Directors, “Stephen Wallace” CANYON COPPER CORP. Stephen Wallace, President, CEO and Director Contact: Canyon Copper Corp. Investor Relations (604) 331-9326 [email protected] Cautionary Statement Regarding Forward Looking Information This News Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors inc...