MinKap Resources Inc. Announces Termination of Property Acquisition Agreement for the Breccia Gold Property, Idaho
TORONTO, April 14, 2020 - MinKap Resources Inc. (TSXV:KAP) ("MinKap" or the "Company") announces that, further to its press release of February 18, 2020, the non-binding letter of intent (the "LOI") dated February 3, 2020, between the Company and DG Resource Management Ltd. ("DG") has been terminated by the Company in accordance with the provisions of the LOI. The Company remains open to further negotiation of revised terms with DG in respect of the Breccia Gold Property in response to current market conditions. The Company also announces that further to its press release of March 5, 2020, the non-brokered private placement of up to 10,000,000 units (each, a "Unit") of the Company at a price of $0.075 per Unit for aggregate gross proceeds of up to $750,000 (the "Offering") has been terminated and will not proceed as proposed.
The Company continues to evaluate and review other gold and base metal opportunity for potential acquisition.
On behalf of the Board of Directors
MinKap Resources Inc.
Jonathan Armes
President & CEO
Phone 1 (416) 708-0243
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
SOURCE: MinKap Resources Inc.