Business
Oceanus Resources Corporation Provides Update on Acquisition of Prospective Gold Properties in Mexico
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITE...
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTrading Symbol:  TSX-V: OCN\nShares Issued:  15,825,000\n\n\nHALIFAX, Jan. 24, 2013 /CNW/ - As previously announced Oceanus Resources\n Corporation (TSXV: OCN) (\"Oceanus\" or the \"Company\") has signed a\n binding letter of intent (\"LOI\") to acquire all of the issued and\n outstanding securities of  Lunar Gold Holdings Incorporated (\"LGH\"), a\n Canadian company, by way of security exchange. LGH and LGH's wholly\n owned Canadian subsidiary, LGHI Holdings Incorporated (\"LGHI\"),\n together own 100% of Minera Pueblo de ORO SA DE CV, a Mexican company,\n (\"MPO\"). MPO is a party to agreements to earn a 100-per-cent interest\n in twelve (12) Mexican mining concession titles, collectively known as\n the La Lajita property (the \"Claims\") covering approximately 3,218\n hectares in Durango, Mexico (the \"MPO Agreements\").\n\n\nThe transaction is subject to TSX Venture Exchange (the \"Exchange\") and\n other regulatory approvals. As well, closing is subject to a geological\n report compliant with National Instrument 43-101 being approved by the\n Exchange and other customary approvals for transactions of this type.\n\n\nMercator Geological Services Limited has prepared a geological report\n compliant with National Instrument 43-101 on the Claims (the \"Technical\n Report\").  Oceanus has submitted the Technical Report to the Exchange\n for review.\n\n\nPrivate Placement\n\n\nAs previously announced, Oceanus intends to complete a private placement\n offering (the \"Offering\") at a price of $0.26 per common share.  The\n Company may pay a Finder's Fee of 6% cash and 6% Finder's Warrants in\n accordance with Exchange Policy 5.1.\n\n\nThe securities issued pursuant to the Offering will be subject to a hold\n period expiring four months and one day after the closing of the\n Offering in accordance with applicable securities laws and, if\n required, the policies of the Exchange.  The current officers and\n directors of Oceanus may subscribe under the Offering.\n\n\nTrading of Oceanus's stock has been halted and will remain halted,\n pursuant to Exchange Policy 5.3.  The acquisition and Offering are\n expected to close on or before February 28, 2013.\n\n\nDavid R. Duncan, P. Geo., w...