Quri-Mayu Developments Ltd.
Quri-Mayu Resources Ltd Announces Acquisition of 1169783 B.C. Ltd., Including Its Keaper Silver, Copper, Molybdenum, Zinc property
Monday, March 4, 2019 4:50 PM
VANCOUVER, BC / ACCESSWIRE / March 4, 2019 / Quri-Mayu Resources Ltd. (formerly, Quri-Mayu Ventures Ltd.) ("QMR" or the "Company") is pleased to announce the acquisition of 1169783 B.C. Ltd. ("783BC") that includes its Keaper Silver, Copper, Molybdenum, Zinc property.
Terms of the acquisition
The terms of the acquisition include the Company issuing 5,065,020 common shares from its authorized share capital through a share exchange on a 1:1 basis with 783BC shareholders for the Company to acquire a 100% equity interest in 783BC (the "Acquisition"). As a result, 783BC will become a wholly-owned subsidiary of the Company upon closing of the transaction. The deemed fair value of the Acquisition is $506,502 or $0.10 per share.
Mineral Property – Keaper Project Silver, Copper, Molybdenum, Zinc
The Keaper property lies is accessed from Highway 16, 20 km east of Terrace, B.C. and south of Kleanza Creek. Total area of Keaper property is 2158.12 hectares in three tenures.
The Keaper property is a highly prospective polymetallic project with rock and soil geochemical sample survey as high as 3.93 g/t Gold, 1,512 g/t Silver, 9.90 % Copper and 13.9% Zinc.
Work in the Keaper area, has included prospecting and rock and soil geochemical sampling.
The Keaper mineral tenure covers an "early stage" prospect and there are no mineral reserves or mineral resources on any part of the tenure.
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 QMR. Forward-looking information is based on certain key expectations and assumptions made by the management of QMR. Although QMR 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 QMR 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. QMR 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: Quri-Mayu Resources Ltd.