Atlantic Industrial Minerals Incorporated Expands Cape Breton Limestone Holdings

Colin J. MacDonald, President and CEO of Atlantic Industrial Minerals
Incorporated. ("AIM")(TSX VENTURE:ANL) announces that an agreement has been
reached to expand the company's limestone property holdings in Cape Breton, Nova
Scotia.


Glencoe and Kewstoke Properties

AIM has reached an agreement with Greg Isenor, G.P. Isenor Co. and Robert
MacDonald to acquire a 50% interest in Glencoe Resources Inc. and a 100%
interest in the Kewstoke carbonate property. 


Glencoe Resources Inc. is a passive holding company for the Glencoe carbonate
property and AIM has owned 50% of the shares of Glencoe Resources Inc. since
1995. The acquisition of the outstanding 50% of Glencoe Resources Inc. will
increase AIM's ownership to 100% and give AIM sole control over the Glencoe
limestone deposit with the ability to actively pursue the project unimpeded. 


The consideration for the acquisition will be 6,000,000 common shares, 2,000,000
share purchase warrants exercisable at $0.10 per share for 12 months, and
$50,000 of which $25,000 is a non-refundable deposit. A production royalty of
the greater of $1.50 per tonne or 5% of the gross selling price will be paid on
all carbonate product sold.


The Glencoe carbonate property is comprised of 81claims totalling 1296 hectares
in southwest Cape Breton, Nova Scotia. The Kewstoke carbonate property is
comprised of 28 claims totalling 448 hectares in the same region of Cape Breton.


The Glencoe and Kewstoke carbonate properties have been the subject of
significant historical work and host areas of cement grade carbonate potential,
high purity (chemical grade) carbonate potential, white to light grey carbonate
(filler and coater products) potential and varied colour (dimension stone)
potential.


The acquisition is subject to completion of final contract and regulatory
approval, and shareholder approval as may be necessary.


On behalf of the Board

Colin MacDonald, President & CEO 

This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future exploration drilling,
exploration activities and events or developments that the Company expects, are
forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions.

Aegis Inv Mgmt Golf (TSXV:AIM)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024