Cypress Minerals Corp
CYP
Shares issued 13,970,781
1998-11-20 close $0.14
Monday Nov 23 1998
Also ITL Capital Corporation (ICL)
The VSE has accepted for filing a mineral property sub-option agreement dated Sept. 3, 1998 whereby ITL Capital will grant Cypress Minerals the right to acquire an undivided 50 per cent interest (representing an undivided 25 per cent interest) of ITL's 50 per cent interest held in the renewal mining lease No. 106899 known as the Durham-McEwen claim block in the township of Balmer, District of
Kenora, Ontario. In consideration, Cypress will incur $450,000 of exploration expenses on the property and thereafter finance its share of the remaining exploration expenditures required under the original agreement. Pursuant to the original agreement between Rupert Resources and Cypress Minerals, which was accepted by the VSE on Oct. 9, 1996, $1,800,000 is to be spent on exploration. The property remains subject to a 1.5 per cent nsr royalty in favour of Camp McMan Red Lake Gold Mines.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
Edit: Isn't this a repeat?? |
