Copper Mesa announces agreement with Nortec Ventures

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[{"type":"text","content":"\n\n\n\nVANCOUVER, April 1 /CNW/ - Copper Mesa Mining Corporation ("Copper Mesa"\nor the "Company") (TSX:CUX) today announced the Company has entered into a\nbinding agreement (the "Agreement") with Nortec Ventures ("Nortec")\n(TSX-V:NVT) to acquire a wholly owned subsidiary ("Subsidiary") of Copper\nMesa. The Subsidiary, through its Ecuadorian entities, holds title to various\nmineral resource properties including surface rights in Ecuador.\n\n\nUnder the terms of the Agreement, Nortec will pay to Copper Mesa\nUS$5,500,000 cash (the "Purchase Price"), in instalments, with the final\ninstalment due January 31, 2010. Alternatively, Nortec may satisfy payment of\nthe Purchase Price by paying to Copper Mesa the aggregate amount of\nUS$5,000,000 no later than June 30, 2009. The Company has also agreed to\nreimburse Copper Mesa US$75,000 for various property and tax payments made in\nEcuador.\n\n\nCopper Mesa will continue to own the Zonia and Emerald Isle past\nproducing copper properties located in Arizona, USA.\n\n\nAbout Copper Mesa Mining Corporation\n\n\nCopper Mesa is a mineral exploration and development company focused on\nadvancing into production its two key past-producing copper properties, the\nZonia and Emerald Isle Mines in Arizona, USA. www.coppermesacorp.com\n\n\nThis press release may contain forward-looking statements that are based\non Copper Mesa's expectations, estimates and projections regarding its\nbusiness and the economic environment in which it operates. These statements\nare not guarantees of future performance and involve risks and uncertainties\nthat are difficult to control or predict. Therefore, actual outcomes and\nresults may differ materially from those expressed in these forward-looking\nstatements and readers should not place undue reliance on such statements.\nStatements speak only as of the date on which they are made, and the Company\nundertakes no obligation to update them publicly to reflect new information or\nthe occurrence of future events or circumstances, unless otherwise required to\ndo so by law.\n\n\n%SEDAR: 00022376E\n\n\n","length":2208,"tagName":"div"}]

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