Polarity Minerals Corp Announces Acquisition of 1169890 B.C. Ltd., Including Its Pam Gold-Copper-Zinc-Molybdenum Property
Monday, March 4, 2019 4:53 PM
VANCOUVER, BC / ACCESSWIRE / March 4, 2019 / Polarity Minerals Corp. ("PMC" or the "Company") is pleased to announce the acquisition of 1169890 B.C. Ltd. ("890BC") that includes its Pam Project Gold-Copper-Zinc-Molybdenum.
Terms of the acquisition
The terms of the acquisition include the Company issuing 4,670,020 common shares from its authorized share capital through a share exchange on a 1:1 basis with 890BC shareholders for the Company to acquire a 100% equity interest in 890BC (the "Acquisition"). As a result, 890BC will become a wholly-owned subsidiary of the Company upon closing of the transaction. The deemed fair value of the Acquisition is $467,002, or $0.10 per share.
Mineral Property – Pam Project Gold-Copper-Zinc-Molybdenum
The Pam property is located approximately 65 km southwest of Houston and 20 km north-northeast of past producing Huckleberry Mine in the Regional District of Bulkley-Nechako, British Columbia. The property consists of eight mineral claims totaling 3,890.93 ha in the Omineca Mining Division.
Accessibility to the property is by a network of logging roads which connect to Highway 16 just west of Houston.
The region is host to numerous porphyry copper-gold deposits and prospects near the Property. Huckleberry Mine is situated 21km to the south and is a major producer of copper, molybdenum, silver and gold.
For further information please contact:
Kevin Beaulieu, Director
E-mail: [email protected]
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of PMC. Forward-looking information is based on certain key expectations and assumptions made by the management of PMC. Although PMC believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because PMC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. PMC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: Polarity Minerals Corp.