Bacanora Provides Update on Rare Earth Minerals Joint Venture Agreement #2
26 Marzo 2014 - 2:34PM
Marketwired
Bacanora Provides Update on Rare Earth Minerals Joint Venture
Agreement #2
CALGARY, ALBERTA--(Marketwired - Mar 26, 2014) - BACANORA
MINERALS LTD. ("Bacanora" or the "Company") (TSX-VENTURE:BCN)
announced today that Rare Earth Minerals, Plc ("REM") has satisfied
all conditions under the terms of the joint venture agreement
between Bacanora and REM in respect of the San Gabriel, Buenavista
and Megalit concessions ("Concessions") (details of which are set
out in the Company's press release dated March 12, 2014) to earn a
10% interest in the subsidiary that will hold the Concessions
(Minera Megalit S.A. de C.V.). In particular, REM has provided the
Company with an upfront cash payment of $250,000, together with a
further $500,000, which has been allocated towards exploration and
drilling on the Concessions. With this condition having been
satisfied, the Concessions are now in the process of being
transferred to Minera Megalit S.A. de C.V., following which shares
therein will be issued to REM.
Reader Advisory
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. In particular, forward-looking information
in this press release includes, but is not limited to statements
regarding the transfer of the Concessions to, and the shareholdings
within, Minera Megalit S.A. de C.V. Although we believe that the
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will
prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
commodity price volatility; general economic conditions in Canada,
the United States, Mexico and globally; industry conditions,
governmental regulation, including environmental regulation;
unanticipated operating events or performance; failure to obtain
industry partner and other third party consents and approvals, if
and when required; the availability of capital on acceptable terms;
the need to obtain required approvals from regulatory authorities;
stock market volatility; competition for, among other things,
capital, skilled personnel and supplies; changes in tax laws; and
the other risk factors disclosed under our profile on SEDAR at
www.sedar.com. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.
The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our
expectations except as otherwise required by applicable securities
legislation. Readers are cautioned not to place undue reliance on
forward-looking information.
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.
Bacanora Minerals Ltd.Shane ShircliffChief Executive
Officer(306) 649-0602Bacanora Minerals Ltd.Martin
VidalPresident(+52 662) 210-0767www.bacanoraminerals.com
Bacanora Minerals Ltd. (TSXV:BCN)
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