Aquiline Resources Inc - News Release
Aquiline receives approval for acquisition
Aquiline Resources Inc AQI
Shares issued 7,367,475 Dec 16 close $0.14
Fri 17 Dec 99 News Release
Mr. Marc Henderson reports
Further to news in Stockwatch Aug. 30, 1999, the Canadian Venture Exchange
has approved the letter agreement between the company and Thomas Obradovich
dated Aug. 25, 1999, pursuant to which the company will acquire
100-per-cent interest in 136-claim units located in the Loughrin township,
Ont. Consideration is $105,000 (5,000 upfront and the balance staged over
36 months), 200,000 shares upfront and exploration expenditures of
$200,000. The property is subject to a 2-per-cent net smelter return
royalty. The acquisition of the Loughrin township property solidifies the
company's position as one of the largest property holders in the River
Valley intrusive.
The shares to be issued to Mr. Obradovich are subject to a 12-month hold
period ending Nov. 26, 2000, and shall be issued at a deemed price of 16
cents per share.
A finder's fee of 10,000 shares to be issued at a deemed price of 16 cents
is also payable to Yorkton Securities. These shares are subject to a
12-month hold period ending Nov. 26, 2000.
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