Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : International Canalaska (V.ICA) -- Ignore unavailable to you. Want to Upgrade?

To: alan von weiler who wrote (654)	2/3/1998 6:34:00 PM
From: alan von weiler	Read Replies (1) \| Respond to of 891

International Canalaska Resources Ltd - Acquisition International Canalaska Resources Ltd ICA Shares issued 17,357,793 Feb 2 close $0.34 Tue 3 Feb 98 Acquisition Also International Freegold Mineral Dev Inc (ITF) The VSE has accepted for filing documentation pertaining to an agreement dated December 21 1997, whereby International CanAlaska Resources Ltd can acquire from Cartaway Resources Ltd, a 50% interest in mineral claim licence No. 3307M (the property) in Labrador, Newfoundland. In consideration, CanAlaska is obligated to incur a total of $500,000 in exploration expenditures on the property by December 31 1999, complete a $100,000 private placement purchasing 333,333 units of Cartaway consisting of one share and one share purchase warrant, and exercising $50,000 of Cartaway warrants on or before May 31 1998. By financing $100,000 in exploration expenditures and completing a geophysical survey on the property by April 30 1998, CanAlaska will be the operator and receive a 15% fee for all monies expended on the property. A 1% nsr royalty is retained by Thistle Creek Resources Inc. If the property is purchased, CanAlaska has the right to purchase from Thistle Creek, a 0.5% nsr royalty for $500,000 subject to exchange acceptance. In addition to the 1% nsr, an additional 1% nsr royalty has been created whereby Cartaway and CanAlaska each own 0.5%. In addition and further to the VSE notice of December 12 1996, CanAlaska, International Freegold Mineral Development Inc and Cartaway have amended the September 9 1996 agreement, whereby Cartaway can earn a 50% interest (reduced from 60%) in mineral claim licence No. 5446M (previous licence No.1575M and 1576M) by incurring a total of $2,000,000 in exploration expenditures by December 31 1999, on the mineral claim licence No. 5446M. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com