Santa Fe Metals Corp. Signs Definitive Agreement for the Sale of Cuatro Cienegas Property
08 Enero 2014 - 4:27PM
Marketwired
Santa Fe Metals Corp. Signs Definitive Agreement for the Sale of
Cuatro Cienegas Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 8, 2014) - Santa
Fe Metals Corp. (TSX-VENTURE:SFM) ("Santa Fe" or the "Company")
announces that, having received shareholder approval for the
proposed sale of its Cuatro Ciénegas property at the Company's
Annual General and Special Meeting held on December 19, 2013, Santa
Fe has now signed a Definitive Agreement with Brigadier Gold Ltd.
(TSX-VENTURE:BRG) for that sale.
On September 10, 2013, Santa Fe announced it had signed a letter
of intent (LOI) to sell up to 100% of its interest in the Cuatro
Ciénegas property to Brigadier. The LOI included an upfront cash
payment of $200,000 (received), reimbursement of the 2013 second
semester concession taxes (paid) and a commitment to finalize a
Definitive Agreement.
The Definitive Agreement sets out the terms and conditions under
which Brigadier can earn a 100% undivided right, title and interest
in the property, subject only to pre-existing royalty commitments.
Brigadier must pay cash of $25,000 and an aggregate of $857,514,
payable in cash or shares at Brigadier's option, to Santa Fe over a
period of up to 42 months, and maintain the underlying concessions
in good standing during the earn-in period in order to receive the
100% interest. The Definitive Agreement is subject to TSX Venture
Exchange approval.
Scott Broughton, P.Eng., President and CEO of the Company, is a
qualified person as defined by National Instrument 43-101 -
Standards For Disclosure of Mineral Projects and has reviewed and
approved the technical disclosure of this news release.
The TSX Venture Exchange has in no way passed upon the
merits of the proposed transactions and has neither approved nor
disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Scott E. Broughton, P.Eng., President and CEO
www.santafemetals.com604.684.2900
Santa Fe Metals Corporation (TSXV:SFM)
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