Stocks & Investing
Stocks and Investing
Stocks and Investing
Fri, March 8, 2013
Thu, March 7, 2013 Affinor Resources Inc. Acquires the La Reine and the Destor Extension Properties
March 07, 2013 16:31 ET
Affinor Resources Inc. Acquires the La Reine and the Destor Extension Properties
MONTREAL, QUEBEC--(Marketwire - March 7, 2013) - The management of Affinor Resources Inc. ("Affinor" or "Company") (CNSX:AFI) announces the acquisition of the La Reine and Destor Extension Properties.
The La Reine property contains 2 mining claims and covers an area of 85 hectares. It is located 17 km from the former Normetal mine. According to the terms of the transaction, Affinor acquires 100 % of the 2 claims in exchange of the issuance of 750,000 common shares of the Company. The seller will retain a 2 % NSR.
The Destor Extension property contains 4 mining claims and covers 200 hectares. It is located 9 km from the Yuan Vezina mine and 5 km from the Duquesne gold mine. According to terms of the transaction, Affinor acquires 100 % of the 4 claims in exchange of the issuance of 925,000 common shares of the Company. The seller will retain a 2% NSR.
The Company also announces that it has entered into an agreement to satisfy outstanding indebtedness of $ 56,306 by the issuance of 1,126,120 common shares at a deemed price of $ 0.05 per share. The indebtedness consists of the accrued interest as of February 28, 2013 on the payable debenture.
About Affinor:
Affinor is a mineral exploration company with interests in various mineral properties in the Province of Quebec and whose objective is to develop mining projects.
Forward looking Statements: The statements contained in this release that describe objectives and expectations, may constitute forward-looking statements within the meaning of securities legislation. The Company cautions that, by their very nature, forward-looking statements involve risks and uncertainties and, therefore, a project or goal could not be achieved.
Neither the CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX exchange) accepts responsibility for the adequacy or accuracy of this release.
