Flow-through Financing To C$5 Mln [TEZ.V]
9/25/2007 3:08:00 PM ET Related symbols: V.NFX RTTNews.com
PM Newstrike Acquires 25% Interest In Swansea Property - Quick Facts [NR.V]
Newstrike Resources Ltd. (NR.V) said that it has signed a deal with Leonard Cunningham, under which Newstrike will acquire a 25% interest in the property known as the Swansea property located along the Larder Lake Break in northeastern Ontario.
Under the terms of the deal, Newstrike may acquire its undivided 25% interest in the Swansea Property by issuing an aggregate of 50 thousand common shares within 10 days of receipt of all applicable regulatory approvals for the transaction, and by making a cash payment of $25,000.
The 25% interest to be acquired by Newstrike pursuant to this transaction shall be subject to an aggregate 6.25% net proceeds of production royalty up to a maximum of $275 thousand.
In a related transaction, Newstrike also acquired an option to earn an additional 25% interest in the Swansea Property pursuant to an option agreement with NFX Gold Inc. |