Copper Lake Agrees to Terms to Purchase Additional 9.09% of Norton Lake Property
29.06.2015 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Jun 29, 2015) - Copper Lake Resources Ltd. (TSX VENTURE:CPL) (FRANKFURT:W0I) ("Copper Lake") is pleased to announce that it has agreed to terms to purchase an additional 9.09% in its Norton Lake Property from White Metal Resources Corp. ("White Metal").Subsequent to the parties receiving all necessary regulatory approval (including TSX-V approval) for the transaction, Copper Lake will issue 2,000,000 common shares from treasury to White Metal as consideration for the purchase. White Metal will also agree to vote its shares as directed by Copper Lake's management for a 24 month period following issuance. There are no other conditions.
The Company currently holds a 60.70% interest in the Norton Lake Property, and will hold a 69.79% interest once the acquisition is completed.
The Norton Lake Property, consists of 32 claims covering approximately 8,800 hectares and is located approximately 50km northeast of Fort Hope, Ontario on the southern margin of the Ring of Fire exploration region.
On behalf of Copper Lake Resources Lt.:
Ronald Coombes
President and CEO
Neither the 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.
Contact
Copper Lake Resources Ltd.
Ron Coombes
604-724-2369
rcoombes@copperlakeresources.com