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Aquiline Resources Inc - News Release Aquiline receives approval for acquisition Aquiline Resources Inc AQI Shares issued 7,367,475 Dec 16 close $0.14 Fri 17 Dec 99 News Release Mr. Marc Henderson reports Further to news in Stockwatch Aug. 30, 1999, the Canadian Venture Exchange has approved the letter agreement between the company and Thomas Obradovich dated Aug. 25, 1999, pursuant to which the company will acquire 100-per-cent interest in 136-claim units located in the Loughrin township, Ont. Consideration is $105,000 (5,000 upfront and the balance staged over 36 months), 200,000 shares upfront and exploration expenditures of $200,000. The property is subject to a 2-per-cent net smelter return royalty. The acquisition of the Loughrin township property solidifies the company's position as one of the largest property holders in the River Valley intrusive. The shares to be issued to Mr. Obradovich are subject to a 12-month hold period ending Nov. 26, 2000, and shall be issued at a deemed price of 16 cents per share. A finder's fee of 10,000 shares to be issued at a deemed price of 16 cents is also payable to Yorkton Securities. These shares are subject to a 12-month hold period ending Nov. 26, 2000. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com | ||||||||||||
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