NEWS I'll comment on PVF thread
Paramax Resources Ltd -
Paramax property acquisition
Paramax Resources Ltd PXM
Shares issued 5,970,100 2000-03-16 close $1.57
Friday Mar 17 2000
The Canadian Venture Exchange has accepted for filing a letter of intent dated Nov. 12, 1999, as amended Jan. 7, 2000, between the company and Paramount Ventures and Finance Inc. (directors: P. Conroy, J. Owen, C. Orr-Ewing, R. Husband and E. Sweeney). The company has been granted an option to acquire up to a 50-per-cent interest in a mineral claim in Mato Grosso, Brazil.
Under the letter agreement, the company may earn a 20-per-cent interest in the property by incurring exploration expenditures (over one year) of $125,000 (U.S.) and may acquire an additional 30-per-cent interest (for a total of 50-per-cent interest) after an additional $175,000 (U.S.) in exploration expenditures are made.
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