Major NEWS.
This is HUGE. Give this stock 6 months and i think it will be $0.50.
Mandorin Goldfields Inc. Quick Quote: V.MGD (no quote)
Property-Asset Acquisition
9/16/03
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to a Licence Agreement dated April 29, 2003 between the Company and Uniquest Pty Limited ('Uniquest') pursuant to which the Company has been granted the exclusive worldwide licence to commercialize certain intellectual property (the 'Intellectual Property') for a period of 20 years. The Intellectual Property consists of computational models for the barometric determination and analysis of diamondiferous kimberlite and lamprolite deposits, data that relates to diamondiferous locations and mineralogical and compositional analysis of diamondiferous locations, and related data, trade secrets and know how, developed at the University of Queensland, Australia. Uniquest is the technology transfer and commercialization company of the University of Queensland.
Under the Licence Agreement, the Company is required to pay to Uniquest $15,000 (Australian) and such number of common shares
equal to 10% of the issued and outstanding common shares of the Company on Exchange acceptance, and 10% of the gross proceeds of the securities offerings undertaken by the Company until the Company has paid a total of $985,000 (Australian), which amount must be fully paid by October 29, 2004. The Company may extend such deadline on payment to Uniquest of $25,000 (Australian) for each three-month extension.
The Company has also agreed to pay to Uniquest a royalty of 5% of the revenue from the sale of diamonds extracted following the application or consequence of the use of the Intellectual Property. |
