Match Capital Resources Corporation: Press Release.TORONTO -- Match Capital Resources Corporation (the "Corporation")(NEX NEX abbr. Navy exchange :MHC MHC major histocompatibility complex. MHC abbr. major histocompatibility complex MHC major histocompatibility complex. .H) (the "Company") is pleased to announce that the Company has entered into a joint venture agreement (the "Joint Venture') with Western Troy Capital Resources Inc. ("Western Troy") whereby, subject to board of director approval by each company, the Company is to sell a 25% joint venture interest in certain mining claims held by the Company (the "Match Capital Claims") for a $125,000 work commitment by Western Troy. Western Troy holds mining claims which form part of the same exploration target and are contiguous to the Company's mining claims in the Eastmain River The Eastmain River is a river in northwestern Quebec which rises in north central Quebec and flows 800 km west to drain into James Bay. This river drains an area of 46,400 km². The First Nations Cree village of Eastmain is located at the mouth of the river. project in James Bay area, Quebec. The Company believes that the joint exploration of the mining claims is the interest of both companies. The $125,000 work commitment will enable further exploration of the Match Capital Claims. The Joint Venture is to be implemented immediately after received of board of director approval so as to enable exploration of the Match Capital Claims during the winter season. The Company and Western Troy are related parties in that each company is controlled, directly or indirectly, by Stanley Mourin. The Joint Venture is exempt from the valuation and minority shareholder approval requirements under Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. Rule 61-501 sections 5.5(2) and 5.7(2) as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Joint Venture, exceeds 25% of the Company's market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . 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. does not accept responsibility for the adequacy or accuracy of this release. Match Capital Resources Corporation (NEX BOARD:MHC.H) |
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