Consolidated Global Minerals Ltd.: Joint Venture Agreement with GrandCru Resources Corporation.VANCOUVER, 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 -- Consolidated Global Minerals Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CTG CTG Cartridge CTG Center for Technology in Government (SUNY, Albany, New York) CTG Center for Technology in Government CTG Computer Task Group (IT consulting company; Buffalo, NY, USA) ) (Global) is pleased to announce that Global has entered into a letter of intent with GrandCru Resources Corporation (TSX VENTURE:GR) ("GrandCru") whereby Global and GrandCru will contribute certain property interests in Northern Nevada (the "Properties") with a view to forming a joint venture (the "Joint Venture") for the purposes of further exploration and development. Global will contribute its 100% interests in (i) surface rights and an option to purchase lands covering approximately 600 acres; (ii) mining lease and surface rights and an option to purchase covering approximately 2,920 acres known as the Quarter Circle "S" Ranch Lands; and (iii) 35 claims known as the VN claim Group. GrandCru will contribute its 100% interest in the Danny Boy Claims. GrandCru will be obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to make an immediate payment of $2,500, issue 500,000 shares and expend US$1,000,000 on the Properties over a five year period. GrandCru will be the Operator and under the resulting Joint Venture the interests of the parties in the Properties will be 30% to Global and 70% to GrandCru. The transaction is subject to acceptance by the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Consolidated Global Minerals Ltd. is a Canadian-based company with a focus on the acquisition, exploration and development of mineral property interests. ON BEHALF OF THE BOARD George W. Heard, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Consolidated Global Minerals Ltd. (TSX VENTURE:CTG) |
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