CY

Clear Mountain Resources Corp. (TSX VENTURE:CY) ("Clear Mountain" or the
"Company") announces that the closing date on or before which the Company's
acquisition of certain oil and gas assets in Osage County, Oklahoma (the "PERL
Assets") was to take place under the Company's previously disclosed letter of
intent with Performance Energy Resources, LLC ("PERL") has expired. However, the
Company continues to work towards closing the transaction.


As part of the Company's efforts in Osage County, Oklahoma, the Company recently
made a down payment of US$791,875.00 to the Osage Tribe of Indians of Oklahoma
for the right to acquire certain oil and gas leases covering approximately 396
tracts comprising 160 acres each in the Hominy Creek concession (the "Hominy
Creek Project"), a 63,350 acre concession located in close proximity to the PERL
Assets. Under the Hominy Creek Project the Company has the right to purchase
certain oil and gas leases within the Hominy Creek concession by funding an
additional payment of US$1,583,750.00 on or before July 31, 2014 for half of the
concession acreage and drilling a minimum of 35 vertical wells on the concession
by December 31, 2014. In order for the concession to survive beyond 2014, the
Company will be required to make an additional payment of US$2,375,625.00
(payable in two installments) and drill a further 35 vertical wells within the
calendar year 2015. Closing of the Hominy Creek Project remains subject to,
among other things, the execution of formal documentation, regulatory approvals
and financing.


About Clear Mountain

Clear Mountain Resources Corp. is a junior mineral resource exploration company
with its head office in Vancouver, British Columbia, Canada. The Company's
principal business is the identification, evaluation and acquisition of mineral,
oil and gas properties, and the subsequent exploration and operation thereof.


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.


This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Such forward-looking statements reflect management's current
beliefs and are based on assumptions made by and information currently available
to the Company. Readers are cautioned that these forward looking statements are
neither promises nor guarantees, and are subject to risks and uncertainties that
may cause future results to differ materially from those expected. Specifically,
the acquisition of the PERL Assets and the Hominy Creek Project are subject to
numerous conditions including the execution and delivery of formal
documentation, regulatory approvals and the Company raising the necessary
financing to complete such acquisitions. There are no assurances that all
conditions precedent (including raising of the necessary financing) will be
satisfied or that the purchase and sale of the PERL Assets or the Hominy Creek
Project will be successfully completed on the terms and conditions contemplated
or at all. All of the forward-looking statements made in this news release are
qualified by these cautionary statements and those made in our Canadian
continuous disclosure filings available on SEDAR at www.sedar.com. These
forward-looking statements are made as of the date hereof and the Company does
not assume any obligation to update or revise them to reflect new events or
circumstances save as required under applicable securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Clear Mountain Resources Corp.
Richard Barth
President and Chief Executive Officer
(918) 213-0294
rbarth@clearmountainresources.com
www.clearmountainresources.com

Clear Mountain Resources Corp. (TSXV:CY)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Clear Mountain Resources Corp. (TSXV:CY)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024