Canabrava Diamond Corporation agrees to acquire Rio Sono and Itamarim properties.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)--March 10, 1995-- CANABRAVA DIAMOND (VSE See DOS/VSE. VSE - Virtual Storage Extended :CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) ) CANABRAVA DIAMOND CORPORATION announced today that it has agreed to acquire the Rio Sono and Itamarim diamond properties from Southwestern Gold Corporation ("Southwestern"). The purchase price shall be $229,355 being Southwestern's costs of acquiring and exploring the properties. The purchase price will be satisfied by the issuance of 120,713 shares of Canabrava to Southwestern. The acquisition of these two properties will increase Canabrava's land position in Brazil by approximately 73,000 hectares. The acquisition is subject to regulatory approval and, in the case of Canabrava, shareholder approval. John G. Paterson President -0- The 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). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Canabrava Diamond Corp. John G. Paterson, 604/669-2525 |
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