Consolidated Venturex Holdings Ltd -
Cons Venturex receives CDNX acquisition approval
Consolidated Venturex Holdings Ltd CVA
Shares issued 9,745,936 2000-07-19 close $0.1
Thursday Jul 27 2000
Ms. Sharon Constable reports
Consolidated Venturex Holdings has received final acceptance from the Canadian Venture Exchange for the acquisition of its Sandcherry Creek property as seen in Stockwatch news April 28, 2000, May 17, 2000, and June 20, 2000. Under the terms of the option agreement, the company will earn a 100-per-cent interest by paying a total of $70,000, of which $10,000 has been paid to date and issuing a total of 200,000 common shares, of which 50,000 common shares have been issued to date. The 50,000 shares are subject to a hold period expiring July 10, 2001. There is no finder's fee payable in connection with this acquisition.
The Sandcherry Creek property comprises 90 units totaling 1,440 hectares located in the Sudbury Basin area Ontario, and is located over what is known as the Foy offset. The Foy offset quartz diorite dyke is one of a number of radiating intrusive dykes thought to be genetically related to the very productive Sudbury igneous complex. The offset dykes which often extend for quite some distance from the outer edges of the Sudbury basin, are known to host a significant number of the major and productive Ni-Cu-PGM bearing mineral deposits.
All mineral permits pertaining to the Alberta diamond and Howarth properties, both located in Alberta, have been cancelled.
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