True Zone Announces Formal Agreement to Option Tanzania Property
22.09.2014 | The Newswire
Vancouver, BC / TNW-ACCESSWIRE / September 22, 2014 / True Zone Resources Inc. ("TrueZone" or the "Company") (CSE: TAZ) announces, further to its news releases of December 12, 2013 and January 24, 2014, that it has entered into a formal agreement (the "Agreement") with AFGF Holdings (Tanzania) Limited ("AFGF") to option an 80% interest in two Prospecting Licenses in the Handeni area of east central United Republic of Tanzania. The Agreement supersedes any and all prior agreements and understanding of the parties with respect to the property. TrueZone can exercise its option by paying to AFGF a total of $900,000 (of which $450,000 has already been paid), issue or cause to be issued a total of 7,000,000 shares (of which 2,000,000 shares have been issued), and incur, cause to be incurred or advance a total of $750,000 in exploration expenditures (of which $450,000 has been incurred or advanced to AFGF for exploration).On Behalf of the Board of Directors, True Zone Resources Inc.
Per:
"Souhail Abi-Farrage"
CEO, President and Director
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