Berkwood Resources Ltd. Amends Property Option Agreement
02.01.2013 | The Newswire
Vancouver, B.C., January 2, 2013 - Berkwood Resources Ltd. (TSX-V:BKR.V - News) (the "Company" or "Berkwood") announces that it has amended the terms of its mineral property option agreement respecting the Lac Gueret East Graphite Property located in Quebec, which agreement was initially announced by the Company on May 22, 2012. Under the amended option agreement, the total cash payable to the vendors has been reduced from $285,000 to $150,000 and the aggregate number of common shares issuable to the vendors has been reduced from 1,250,000 shares to 500,000 shares. The remaining cash payments and share issuances under the amended agreement are as follows:----------------------------------------------------------------
| |Cash |Securities |
|--------------------------------------------------------------|
|December 8, 2012 (to be paid and|$30,000|250,000 common shares|
|issued upon TSX Venture Exchange| | |
|acceptance) | | |
|--------------------------------------------------------------|
|June 8, 2013 |$30,000|125,000 common shares|
|--------------------------------------------------------------|
|December 8, 2013 |$30,000|125,000 common shares|
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The amended option agreement is subject to TSX Venture Exchange acceptance.
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On Behalf of Berkwood Resources
"Brian Buchanan"
Brian Buchanan, President and Director
For additional information please contact:
Berkwood Resources Ltd.
Karim Sayani, Corporate Communications
Tel: (604) 662-7455
E-mail: karim@berkwoodresources.com
Tom Steer, Media Relations Manager
Tel: (604) 681-5566
E-mail: tomsteer@berkwoodresources.com
www.berkwoodresources.com
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 news release.