Nickel North Enters Into Property Purchase Agreement with Sino Minerals for the Nairn Property
05 7월 2013 - 5:30AM
Marketwired Canada
Nickel North Exploration Corp. (TSX VENTURE:NNX) (the "Company" or "Nickel
North") is pleased to announce that on June 27, 2013, it entered into a property
purchase agreement with Sino Minerals Corp. ("Sino Minerals"), whereby Nickel
North has agreed to purchase all of Sino Minerals's 100% interest in 14 mining
claims covering a total area of approximately 2,860.4 hectares located in the
Province of Ontario and known as the Nairn Property (the "Nairn Property"),
subject to a 2% net smelter returns royalty over six of the claims and third
party freehold patent surface rights over eight of the claims. In consideration
for the Nairn Property, the Company agreed to issue to Sino Minerals 2,000,000
common shares at a deemed price of $0.25 per share for a deemed purchase price
of $500,000. The closing of the purchase is subject to a number of conditions,
including the approval of the TSX Venture Exchange.
Sino Minerals is an affiliate of Goldrock Resources Co., Ltd. and Sinotech (Hong
Kong) Corporation Limited, the largest shareholders of the Company, which,
together, hold 21,750,000 common shares of the Company, representing
approximately 34.13% of all issued and outstanding common shares of the Company.
On behalf of Nickel North Exploration Corp.
"SIGNED"
Phillip Mudry P Geol., President and CEO
For more information, please visit www.NickelNorth.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nickel North Exploration Corp.
Corporate
604-609-6182
invest@nickelnorth.com
www.NickelNorth.com
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