Manson Creek Annouces New Property Acquisition, Jade Focus and Financing
CALGARY, ALBERTA--(Marketwired - Feb. 28, 2017) -
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Manson Creek Resources Ltd. (TSX VENTURE:MCK) ("Manson") is pleased to announce the acquisition by staking of a 2,111 hectare property in the Cariboo goldfields, in central British Colombia. The property consists of a combination of both Lode and Placer claims, is easily accessible through an existing network of logging roads, and is located approximately 20 kilometers north of the town of Likely, BC.
While the geology of the region is widely known to be prospective for commodities such as gold, copper and nickel, the focus of exploration in this instance will be for nephrite Jade of which there are historical showings and reports in the area. The property covers approximately 6.5 kilometers of strike length along a favorable package of metamorphosed serpentinites and sediments, with significant thrust faulting, all elements which are critical in the formation of Jade.
Mr. JP Jutras, P.Geol. and President of the Company reports: "After recently returning from competing as an award winning Jade and Gemstone carver in one of China's largest competitions (Zi Gang Bei International Competition), and subsequently travelling extensively in China to visit large Jade carving centers and evaluating the Jade space, it is clear that there is a tremendous opportunity for an exploration Company with the proper skill set to make significant headway in this space. While North America, and specifically British Colombia has long been an important supplier of Nephrite Jade to the Asian markets, it has done so on the basis of deposits mostly discovered previous to the 1980's. There has been very little new exploration done using modern day techniques for this particular commodity, and with a dramatic increase in both the demand and the value of Jade over the last 10 years, we see an excellent opportunity to redeploy Manson's technical team in this underdeveloped space."
The Company also announces a non-brokered private placement of up to 7 million units of the Company, at a price of $0.05, each unit consisting of one common share and one half of a common share warrant. Each full common share purchase warrant (a "Warrant") will entitle the holder to purchase one half of an additional common share at a price of $0.10 per share for a period of two years following closing.
The Common Units are to be offered on a non-brokered basis by way of private placement to accredited investors and any securities issued will be subject to a hold period of four months plus one day from the date of closing. A finder's fee of 5% will be paid to eligible agents upon closing. This financing is subject to TSX Venture approval.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.