Canadian Silver Hunter Announces Acquisition of Veinlode Claims
19 Febrero 2014 - 4:23PM
Marketwired
Canadian Silver Hunter Announces Acquisition of Veinlode Claims
TORONTO, ONTARIO--(Marketwired - Feb 19, 2014) - Canadian Silver
Hunter Inc. (the "Company") (TSX-VENTURE:AGH) is pleased to
announce that it has acquired a 100% interest in 26 patented
mineral claims in South Lorrain, Ontario (the "Veinlode Claims")
adjacent to the Company's flagship South Lorrain Project. The
claims were purchased from Veinlode Silver Mines Limited
("Veinlode"), a private company.
Under the terms of an asset purchase agreement dated February
19, 2014, between the Company and Veinlode (the "Agreement"), the
Company acquired all of the Veinlode Claims from Veinlode. The
consideration for this acquisition consisted of the issuance of
40,000 common shares of the Company to Veinlode. The transaction
was approved by Veinlode's shareholders at a meeting held on April
26, 2013.
The Company holds a one-third equity interest in Veinlode,
acquired pursuant to a share purchase transaction which closed on
November 20, 2012, as announced in a press release issued by the
Company on the same date. Jeffrey Hunter, President and Chief
Executive Officer and a director of the Company, serves as
President and a director of Veinlode. In addition, Audrey Lee, Mr.
Hunter's spouse, also serves as a director of Veinlode. As such,
the purchase of the Veinlode Claims is a "related party
transaction" for the purposes of Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The Company is relying on an
exemption from the minority approval and formal valuation
requirements of MI 61-101 due to the fact that the value of the
Veinlode Claims does not represent greater than 25% of the
Company's market capitalization.
Jeffrey Hunter, President and Chief Executive Officer of the
Company, stated, "Our purchase of the Veinlode Claims is a natural
extension of the strategic investment we made in Veinlode. With
this acquisition we are expanding our land package at the South
Lorrain Project, and we are excited to explore the undeveloped
potential of the Veinlode Claims."
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian exploration company
focused on the exploration of silver-cobalt deposits on its
flagship South Lorrain Project (formerly the Keeley Frontier
Project). The South Lorrain Project is located within the historic
South Lorrain Silver Camp, which along with the historic Cobalt and
Gowganda silver camps is part of a world class silver district in
the Abitibi Greenstone Belt between Temagami and Kirkland Lake, in
northeastern Ontario.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This release includes
certain "forward-looking statements". These statements are based on
information currently available to the Company and the Company
provides no assurance that actual results will meet management's
expectations. Forward-looking statements include, or may be based
upon, estimates, forecasts and statements as to management's
expectations with respect to, among other things, the timing of the
Company's exploration, development and business plans, strategic
acquisitions, the focus of the Company in the future, progress in
and success of development of the Company's mineral properties, and
the Company's performance, business prospects and opportunities.
Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results relating to, among other things, outcomes of
acquisitions or other corporate transactions, exploration or
development on the Company's mineral properties, and the Company's
financial condition and prospects, could differ materially from
those currently anticipated in such statements for many reasons
such as: changes in general economic conditions and conditions in
the financial markets; changes in demand and prices for minerals;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; operational
difficulties encountered in connection with the activities of the
Company; and other matters discussed in this release. This list is
not exhaustive of the factors that may affect any of the Company's
forward-looking statements. These and other factors should be
considered carefully, and readers should not place undue reliance
on the Company's forward-looking statements. The Company does not
undertake to update any forward-looking statements that may be made
from time to time by the Company or on its behalf, except in
accordance with applicable securities laws.
Canadian Silver Hunter Inc.Jeffrey HunterPresident and CEO(416)
707-4230jhunter@cshi.cawww.canadiansilverhunter.ca
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