Brandon Gold Corp.: Amending Agreement.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--Feb. 19, 1998--BRANDON GOLD (VSE See DOS/VSE. VSE - Virtual Storage Extended :BG.) Brandon Brandon, city, Canada Brandon, city (1991 pop. 38,567), SW Man., Canada, on the Assiniboine River. The business center of the wheat-raising area of SW Manitoba, Brandon has an extensive trade in farm products and machinery. Gold Corporation (the "Company") is pleased to announce that it has entered into an amending agreement dated January 29, 1998 with Miranda Mining Development Corporation ("Miranda") and Iberoamerica Regalias, S.A. de C.V. ("Iberoamerica") (formerly known as Miranda Royalties, S.A. de C.V.) (the "Amending Agreement") whereby the Company has agreed to amend the terms of the El Caracol (El) Caracol, from the Spanish term for "spiral (snail–, conch– seashell–) shaped", may refer to:
Pursuant to the terms of the El Caracol Agreement, the Company and Miranda formed in 1996 a joint venture company called Minera Caracol, S.A. de C.V. ("Minera Caracol") which has title to the El Caracol Concession, covering an area of approximately 500 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the terms of a shareholders agreement, for so long as the Company makes capital contributions which are to be used for exploration, it controls the board of directors of Minera Caracol. The Amending Agreement alters the terms of the El Caracol Agreement by transferring a concession known as the Guerrero Concession to Minera Caracol. The Guerrero Concession covers an area of approximately 400 square kilometres. In order for the Company to earn a 60 percent interest in Minera Caracol it must increase its aggregate capital contributions to Minera Caracol from U.S. $4,000,000 to U.S. $6,000,000. To date, the Company has contributed U.S. $847,500 towards exploration by Minera Caracol. The balance of the capital contributions are to be made at the option of the Company over a period of six years rather than over two years. The Amending Agreement also provides for additional cash payments of U.S. $150,000 to Miranda and upon making these payments and contributing an additional U.S. $152,500 towards exploration by Minera Caracol, the Company will own 26 percent of Minera Caracol. The Amending Agreement is subject to Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). acceptance. Brandon Gold Corporation is also pleased to announce the closing of the previously announced acquisition of Daler Mining Corporation by the issuance of 2.5 million common shares. The purpose of the Daler acquisition is to retain 100 percent title to various mining permits in Sweden. Brandon Gold Corporation -0- Scott Angus Angus (ăng`gəs), council area (1993 est. pop. 111,020), 842 sq mi (2,181 sq km), and former county, NE Scotland. Under the Local Government Act of 1973, the county of Angus became part of the Tayside region in 1975. , President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release. CONTACT: Brandon Gold Corporation Ian MacLean, 604/ 623-4707 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion