| (TUN-V) Joe Martin, busy today hosting Cambridge House's Vancouver Investment Conference, has found a qualifying transaction for his first capital pool shell, Ituna Capital.Ituna plans to acquire Timothy Termuende and Bernard Kennedy's Clear Creek Resources Ltd. for 11,375,000 shares, and then change its name to Tarku Resources Ltd. The target, founded in March, 2011, recently optioned a 60-per-cent interest in the Tarku uranium property in Saskatchewan from Eagle Plains Resources (EPL-V) prospect generator founded in 1999 by Mr. Termuende and his father, Robert Termuende, who has since retired. Ituna will inherit Clear Creek's option and be responsible for paying $500,000 cash, issuing 1.2 million shares and spending $5-million on exploration, all in stages. Of the 11,375,000 shares that Ituna will issue to Clear Creek shareholders, Mr. Termuende will receive 1,025,000 and Mr. Kennedy will receive one million. They both acquired their shares at one cent. Mr. Termuende, a 50-year-old geologist and stock promoter, will become chairman of Ituna. He is best known for his Eagle Plains promotion, and is also president of Omineca Mining and Metals (OMM-V), a junior miner controlled by Tom MacNeill's 49 North Resources (FNR-V). Mr. Termuende is also on the boards of three penny stocks, Aben Resources (ABN-V), Gespeg Copper Resources (GCR-V) and Northern Freegold Resources(NFR-V). |
