VMS property acquisition clarification
KRL Resources Corp KRL
Shares issued 17,150,625 Sep 23 close $0.10
Wed 23 Sept 98 News Release
Mr. Mike Muzylowski reports
Further to the company's news release in Stockwatch Sept. 22, 1998 and subject to VSE acceptance, KRL has recently entered into five separate mineral property option agreements covering a total of 108 claim units in MacMurchy Township, approximately 85 kilometres south of Timmins, Ontario.
The specific terms of the five option agreements are as follows:
By agreement dated Aug. 4, 1998, the company was granted an option to earn a 100 per cent interest in 35 claim units held by Gino Chitaroni and Thomas Von Cardinal. The company will issue a total of 100,000 shares to the property vendors in blocks of 20,000 shares each over the next 16 months.
The property vendors have retained a 3 per cent net smelter return royalty.
By agreement dated Aug. 6, 1998, the company was granted an option to earn a 100 per cent interest in two claim units held by James Parres and John Tornac. The company will issue a total of 50,000 shares to the property vendors (25,000 shares each). The property vendors have retained a 2 per cent net smelter return royalty.
By agreement dated Aug. 10, 1998, the company was granted an option to earn a 100 per cent interest in three claim units held by Skead Holdings Ltd.
The company will issue a total of 25,000 shares to Skead Holdings and Skead has retained a 2 per cent net smelter return royalty.
By agreement dated Aug. 10, 1998, the company was granted an option to earn a 100 per cent interest in 65 claim units held by Steve Anderson, Donald McKinnon and Ray Meikle. The company will issue a total of 150,000 shares to the property vendors in blocks of 50,000 shares (16,666 shares to each individual) over the next two years. The property vendors have retained a 2
per cent net smelter return royalty.
By agreement dated Aug. 10, 1998, the company was granted an option to earn a 100 per cent interest in three claim units held by R.T.J. Barnes and Charles Morgan. The company will issue a total of 150,000 shares to the property vendors in blocks of 50,000 shares (25,000 shares to each individual) over the next two years. The property vendors have retained a 2 per cent net smelter return royalty.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
