Amended Agreement to Acquire the Vianey Mine Project
27.05.2013 | The Newswire
SURREY, British Columbia, Canada /May 27, 2013/TSX.V:LJ / Lucky Minerals Inc. (the "Company" or "Lucky Minerals") announces that it has amended and restated the agreement to acquire the Vianey Mine Project originally announced by the Company on November 28, 2012 and amended on April 10, 2013. The Company has entered into an exclusive option agreement with a wholly owned subsidiary of Grand Peak Capital Corp. on the following terms:Lucky Minerals will pay $700,000 over a 3 year period with a payment of $100,000 upon TSX Venture Exchange approval (the "Effective Date"), a payment of $200,000 by December 1, 2012 and four subsequent payments of $100,000 on each six month anniversary of the Effective Date. Grand Peak will retain a 2% Net Smelter Return ("NSR") which the Company will have the right to purchase up to 1% of the NSR for $1,000,000 on or before December 1, 2015. Lucky Minerals must also complete exploration work of $825,000 on or before December 31, 2015.
The amended agreement has received final approval by the TSX Venture Exchange.
BY THE BOARD
"Sonny Janda" Sonny Janda
CEO & President
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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