Business
TRES OR ENTERS INTO FISCAL AGENCY AGREEMENT WITH UNION SECURITIES LTD.
TRES OR ENTERS INTO FISCAL AGENCY AGREEMENT WITH UNION SECURITIES LTD.
About this update from Tres-or Resources Ltd.
[{"type":"text","content":"\nTRES OR ENTERS INTO FISCAL AGENCY AGREEMENT WITH UNION SECURITIES LTD.\n\n\n Oct. 19, 2010 (TheNewswire.ca) -- Tres-Or Resources Ltd. (the \"Company\")(TSX Venture: TRS) is pleased to announce that it has entered into a fiscal agency agreement (the \"Agreement\") with Union Securities Ltd. (\"Union\") wherein Union will provide corporate finance advice and other fiscal agency services to the Company (the \"Services\") for a term ending September 30, 2012.In consideration for the Services the Company will issue to Union shares having a value of $70,000 based upon the closing price of the Company's shares as of the date the Agreement is accepted for filing by the TSX Venture Exchange. The Company has also agreed to issue four tranches of warrants to Union on a quarterly basis commencing December 31, 2010. Each such tranche will have a term of 12 months and a cumulative exercise price of $17,500 based upon the closing price of the Company's shares immediately prior to the issuance of such tranche of warrants.The Agreement also provides for Union to be paid a fee equal to 5% of the proceeds from the exercise of any outstanding warrants of the Company during the first 12 months of the term of the Agreement. Union has also been granted a first right of refusal on any brokered financings which the Company might undertake during a period expiring September 30, 2013.The Agreement remains subject to the acceptance of the TSX Venture Exchange.On behalf of the Board of Directors,\"Laura Lee Duffett\"Laura Lee DuffettPresident and CEOContact: Brian Biles, Corporate: Ph: 604-688-8700Email: [email protected] Website: www.tres-or.comNeither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.About Tres-Or Resources Ltd. (TSXV:TRS) :Tres-Or Resources Ltd. (TSX Venture: TRS) is a Canadian resource company exploring gold and precious metals projects and diamond assets in Ontario and Quebec. The experienced team has proven success in exploration through to discovery and mine development. Concurrently, the Company is developing gold production in the Ashanti region, Ghana, West Africa. Additional information related to the Company is available at: www.tres-or.com .Copyright (c) 2010 Thenewswire.ca - ...