Big Valley Resources Inc.: Agreement For The Purchase of The QR Mine Completed.Business Editors WILLIAMS LAKE Williams Lake is the name of several places: Canada
Lloyd Tattersall tat·ter·sall also Tat·ter·sall n. 1. A pattern of dark lines forming squares on a light background. 2. Cloth woven or printed with this pattern. adj. , President of Big Valley Resources Inc.(CDNX CDNX See Canadian Venture Exchange (CDNX). :BV.) is pleased to announce that the Company has signed an agreement with Dean Mason, CA. and 568674 British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography Ltd. and related companies of Prince George, British Columbia Prince George, with a population of 70,981 (census agglomeration of 83,225)[0], is the largest city in northern British Columbia and is known as "BC's Northern Capital". , regarding the purchase of the QR Mine and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. . The Mine is located in central British Columbia, Canada and adjoins the Company's claims on its northern boundary. The Mine was owned and operated at a rate of 1000 tonnes per day, from May, 1995 to April, 1998, by Kinross Gold Corporation ("Kinross") and produced 128,391 ounces of gold. 568674 British Columbia Ltd. and related companies recently acquired the Mine and its assets from Kinross and have agreed to sell the Mine and the assets to the Company. The purchase price of $4.5 million dollars is payable over three years, commencing January 1, 2001 together with interest at prime plus 1%, and the issuance of 6,176,470 shares of the Company. The Company and its Financiers have agreed to raise a further $5 million dollars to invest into the project to facilitate working capital, exploration and bonding. In order to expedite the transition from a junior exploration company to an operating mining company, the Company will appoint a new Chief Executive Officer and Chief Financial Officer with international experience. To accommodate this, the current Chief Executive Officer/President, Lloyd Tattersall and Chief Financial Officer, Egil Livgard, have agreed to step down as Officers and Directors of the Company but will continue to give their valuable expertise as consultants to the Company. In addition, John Enns has agreed to rejoin the Board. The acquisition of the Mine and its assets is subject to the acceptance of the CDNX. ON BEHALF OF THE BOARD Lloyd Tattersall, President The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has neither approved nor disapproved the information contained herein. |
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