Abacus Mining Completes Shares for Debt Transaction
04 6월 2014 - 9:30PM
Marketwired
Abacus Mining Completes Shares for Debt Transaction
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 4, 2014) -
Abacus Mining & Exploration Corporation (TSX-VENTURE:AME)
(the "Company") announces that, following receipt of approval from
the TSX Venture Exchange for the previously announced shares for
debt transaction, the Company has now issued 400,000 common shares
to Ian MacNeily, former Executive Vice President and Chief
Financial Officer of the Company, at a deemed price of $0.065 per
common share.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Michael McInnis, Chairman, President & CEO
About Abacus
Abacus is a mineral exploration and mine development company
with a 20% interest in the feasibility stage Ajax copper-gold
project located at the historic Ajax-Afton site southwest of
Kamloops, B.C. Through a joint venture between Abacus Mining &
Exploration Corporation and KGHM Polska Miedz S.A. through KGHM
Ajax, the Ajax Project is a proposed open-pit mine with an
approximate 20-year mine life expected to yield approximately 109
million pounds of copper and 99,000 ounces of gold annually. Total
proven and probable mineral reserves are estimated at 3 billion lbs
Cu and 2.7 million ozs Au at 0.27% Cu and 0.17 g/t Au based on
$2.50 Cu and $1,085 Au. [see Report titled "Ajax Copper/Gold
Project -- Kamloops, British Columbia Feasibility Study Technical
Report" by Wardrop (a Tetra Tech Company) dated January 6, 2012
("FS")].
Neither 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.
Abacus Mining and Exploration CorporationMichael
McInnisChairman, President &
CEO604.682.0301604.682.0307info@amemining.comwww.amemining.com
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