Newstrike closes deal on Ana Paula
We bought more NES today, now our biggest holding
Newstrike Capital agreement for Ana Paula
Newstrike Capital Inc (C:NES)
Shares Issued 67,012,877
Last Close 4/23/2010 $0.47
Wednesday April 28 2010 – Property Agreement
The TSX Venture Exchange has accepted for filing an option agreement dated Feb. 16, 2010, between Newstrike Capital Inc. and Desarrollos Mineros San Luis SA de CV, a subsidiary of Goldcorp Inc. (a Toronto Stock Exchange-listed company), whereby the company will acquire a 100-per-cent interest in the Ana Paula property comprising four mining concessions located in the Guerrero state, Mexico.
Total consideration consists of $1.5-million in cash payments and $600,000 payable in shares, up to a maximum of 2,222,222 shares, of the company.
In addition, there is a 3-per-cent net smelter return relating to the acquisition. Upon completion of a feasibility study, the company will have the right to purchase 1 per cent of the net smelter return for consideration of $2.00 (U.S.) per ounce of gold that is classified as proven and probable reserves and measured and indicated resources in the feasibility study, to a maximum of $6-million (U.S.) in order to reduce the total net smelter return to 2 per cent.
