Aug. 6, 2010 (Canada NewsWire Group) --
Trading Symbol: WDG - (TSX.V)
VANCOUVER, Aug. 6 /CNW/ - 99 Capital Corporation (the "Company") is pleased to announce that it has entered into a Mineral Property Acquisition Agreement with arm's length parties (the "Arm's Length Parties") to acquire a 100% undivided right, title and interest, subject to a 2% NSR Royalty, in 47 previously patented claim units extending its current land package at the past producing "New Telluride" gold mine located in the Province of Ontario, Canada (the "Property").
Pursuant to the terms of the Mineral Property Acquisition Agreement, the Company is obligated to pay at Closing, Cdn $40,000, and issue 2,500,000 common shares to the Arm's Length Parties. Furthermore, the Company is obligated to pay a 2% NSR Royalty to the Arm's Length Parties (the "NSR Royalty"). The Company has the right of first refusal to purchase the NSR Royalty in the event that at anytime the Arm's Length Parties wish to sell the NSR Royalty. In respect to this transaction, a finder's fee is payable in the form of 200,000 common shares of the Company. This transaction is subject to the final approval of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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On behalf of the Board of
99 Capital Corporation,
"Alexander Helmel"
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Alexander Helmel,
Chairman & CFO
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Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes," "plans," "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
%SEDAR: 00026192E
