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Gold/Mining/Energy : Graphite and Graphene
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From: canucklehead803/21/2012 9:33:31 AM
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Big North President Spiro Kletas on Ontario graphite properties LOI

Zimtu Capital Corp TSXV:ZC announced a letter of intent in which Big North Capital Inc TSXV:NRT may earn a 100% interest in the Griffith and Brougham graphite properties in southern Ontario. The 6,500-hectare package is prospective for high-quality, large-flake graphite in a region that includes Ontario Graphite’s Kearney Mine and Northern Graphite’s TSXV:NGC Bissett Creek Project.

Under the agreement Big North will pay Zimtu $20,000 on signing, $20,000 and 500,000 common shares on TSXV acceptance, 250,000 shares 14 months after TSXV acceptance and 250,000 shares 24 months after TSXV acceptance. Zimtu’s two prospecting partners will together receive cash and shares equal to that of Zimtu. The vendors will collectively retain a 2% net milling royalty, 1% of which can be purchased by Big North for $1 million.

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