News

Xemplar Energy buys Otish claims from Bambic

The TSX Venture Exchange has accepted for filing an agreement dated Sept. 28, 2005, between Peter Bambic and the company. The company has acquired a 100-per-cent interest, subject to a 2-per-cent net-smelter-return royalty, in 1,159 mineral claims located in the Otish basin of Quebec. In consideration, the company will issue three million common shares and pay $300,000.

The company has the right to reduce the royalty to 1 per cent by paying $1-million.

A finder's fee of $75,000 cash is payable to Elite Vantage Development Ltd. in connection with this transaction.

Go back to the previous page