KINGSTON,
ON, April 11, 2014 /CNW/
- Murgor Resources Inc. (TSXV: MGR) ("Murgor") announced today
that it has entered into an Agreement to sell a 1% NSR royalty from
Cartier Resources Inc. (TSXV: ECR) ("Cartier") on the Benoist
property.
Transaction Details
On March 24, 2014,
Murgor notified Cartier that it
had received and accepted an offer from Gold Royalties Corporation
to sell its 1% NSR Royalty interest in the Benoist Property in an
all-share transaction for a value of $75,000. The sale to Gold Royalties
Corporation was subject to a right of first refusal to purchase the
same 1% NSR by Cartier. (see
Murgor press release dated April 7th,
2014)
Cartier has
notified Murgor that it is exercising its right of first refusal in
respect of the Royalty in an all-share transaction for a value of
CDN $75,000.00. An aggregate of
500,000 common shares of Cartier will be issued to Murgor at a
price of $0.15 per share ($75,000).
Closing of the Acquisition is expected to occur
on or before April 14, 2014 and is
subject to the execution of a definitive agreement and the approval
of the TSX Venture Exchange Inc.
About Murgor Resources
Murgor Resources
Inc. is a mineral exploration and development Company focused on
gold and copper exploration in Canada. The company owns a 40%
interest in the Golden Arrow Gold Mine in Ontario and a 100% interest in two gold-copper
deposits in the Snow Lake and
Flin Flon mining districts of
Manitoba. The Company further owns an exceptional portfolio
of gold properties in proven mining districts of Canada.
This news release includes certain
"forward-looking statements". All statements other than statements
of historical fact, included in this release, including, without
limitation, statements regarding potential mineralization,
resources and reserves, exploration results, and future plans and
objectives of Murgor, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from Murgor's expectations are exploration
risks detailed herein and from time to time in the filings made by
Murgor with securities regulators.
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.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT
WWW.MURGOR.COM OR CONTACT:
SOURCE Murgor Resources Inc.