| |
Give this a few months and we'll be laughing!!! Look at GNR and CI today on this news!!! I'd hold those IWA shares this area is going to attract a lot of attention!!!
CASTLE METALS CORPORATION ("CI-V") GOLD GIANT MINERALS INC. ("GNR-V") - Castle & Gold Giant Acquire Interest
Castle Metals Corporation and Gold Giant Minerals Inc. (the "Companies") are pleased to announce that they have entered into an agreement, whereby the Companies can each earn a 37.5% interest in a number of Claims located in the Wells/Barkerville area of British Columbia. This area is one of the oldest most prolific gold producing areas in B.C. The Property is in the immediate area of the recent discovery announced by International Wayside Gold Mines.
Under the terms of the agreement with the Staking Group, the Companies can each earn a 37.5% interest by each issuing 100,000 shares and each making cash payments of $50,000 upon regulatory approval, and a further $50,000 three months from approval date. The Companies also commit to the Phase 1 expenditure of an aggregate $200,000 on the Property this summer. Castle Metals Corporation will be the operator of the Property.
CASTLE & GOLD GIANT TO RAISE $500,000 EACH
The Companies are also pleased to report that they have each engaged Canaccord Capital Corporation (the "Agent"), on a best efforts basis, to act as its agent in the private placement of up to 5,000,000 Special Warrants at the price of $0.10 each. Each Special Warrant will consist of one share and one warrant to purchase one additional common share, exercisable for 24 months at a price of $0.20 per share.
The Agent will be paid a cash commission from each of the Companies equal to 7.5% of the gross proceeds of the private placements.
The net proceeds of the private placements will be used to provide the Companies with working capital and to fund the Property expenditures. TEL: (604) 687-2039
Donald R. Sheldon, President FAX: (604) 687-3141
Castle Metals Corp. and Gold Giant Minerals Inc.
______________________________________ |
|
