Pure Energy Minerals Limited Enters Into Amending Agreement With GeoXplor Inc. Results of AGM, Including Election of New Dire...
04 Mars 2014 - 3:15PM
Marketwired
Pure Energy Minerals Limited Enters Into Amending Agreement With
GeoXplor Inc. Results of AGM, Including Election of New Director
VANCOUVER, BC--(Marketwired - Mar 4, 2014) - Pure Energy
Minerals Limited (TSX-VENTURE: PE) (the "Company") announces
that has entered into an amending agreement with GeoXplor Inc.
("GeoXplor") dated March 3, 2014 (the "Amending Agreement") to
amend the memorandum of understanding ("MOU") between the Company
and GeoXplor to extend the date by which the Company and GeoXplor
are required to enter into a definitive agreement (the "Definitive
Agreement") pursuant to which the Company will be granted an option
to acquire GeoXplor's 100% interest in 71 mining claims 71 placer
mining claims known as the CV and DB claims located in Clayton
Valley, Esmeralda County Nevada (the "Transaction").
Under the terms of the
Amending Agreement, the Company and GeoXplor have agreed to:
(1) extend the date to
complete the Definitive Agreement to March 17, 2014;
(2) to further extend the
date to complete the Definitive Agreement to March 31, 2014 (the
"Second Extension"), in consideration of the Company paying
GeoXplor a CDN$10,000 non-refundable deposit (the "Second Extension
Deposit");
(3) provided the Company has
paid the Second Extension Deposit and the Second Extension has
become effective, to further extend the date to complete the
Definitive Agreement to April 30, 2014, in consideration of the
Company paying GeoXplor a CDN$10,000 non-refundable deposit;
and
(4) to ratify and confirm
all other terms of the MOU (see Company's news release of November
19, 2013).
The Transaction will be
subject to the completion of the Definitive Agreement by the
parties and receipt of all required regulatory approvals to the
Transaction.
In other news, the Company is
pleased to announce that shareholders voted in favour of all items
of business brought before them at the company's Annual General
Meeting held on February 28th 2014. The Company reports that Robert
Mintak, Grant Hall, Michael Dake and Jeremy Poirier were re-elected
Directors of the Company. Mr. Mike Liddle did not stand for
re-election. The Board would like to extend its sincere thanks
to Mr. Liddle for his service and contribution to the Company.
The shareholders of the
Company also appointed Gerhard Jacob M.Sc., EurGeol, as a new board
member.
Mr. Jacob has over 25 years of
experience as a professional geologist. He is currently a
Consulting Geologist/Project Manager for Tagish Lake Gold Corp. and
has held various positions with several mining companies including
Goldmark Minerals Ltd., Oromonte Resources Inc., Golconda Resources
Ltd. and Iscor Ltd. Mr. Jacob earned a M.Sc. Geology from the
University of Goettingen, Germany.
Shareholders also approved the
Company's stock option plan and the appointment of Mackay LLP
Chartered Accountants as the Company's Auditor.
On behalf of the Board of
Directors,
"Robert Mintak" Chief
Executive Officer
NEITHER THE TSX-VENTURE
EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
For further information contact: Robert Mintak
www.pureenergyminerals.com (604) 608-6611
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