Assignment Agreement With Amani Consulting SPRL and Burey Gold Ltd
22 Mai 2014 - 9:19PM
Marketwired
Assignment Agreement With Amani Consulting SPRL and Burey Gold Ltd
ZUG, SWITZERLAND--(Marketwired - May 22, 2014) - Panex Resources
Inc. (the "Company", or "Panex") (OTCQB:DBGF) has signed a binding
term sheet dated May 22, 2014 with Amani Consulting SPRL ("Amani")
and Burey Gold Limited ("Burey"), an Australian listed company (the
"Term Sheet").
Pursuant to the terms and conditions of the Term Sheet, Panex
has agreed to assign and surrender all of the rights and interests
it may have in the share purchase agreement dated December 7, 2013
with Amani (the "Purchase Agreement") to Burey. In addition, Panex
has agreed to assign to Burey all of its rights, title, and
interest in the loans it has provided for the purpose of funding
exploration on the Giro Project (the "Loans"). In consideration of
the assignment of all of Panex's rights and interests in the
Purchase Agreement and the Loans Burey has agreed to issue an
aggregate 55,705,232 shares in the capital of Burey to Panex,
subject to all applicable regulatory and shareholder approvals (the
"Burey Shares").
On successful conclusion of the due diligence and regulatory
approvals, including Burey shareholder approvals, Burey will issue
the Burey Shares to Panex and will commence with the exploration
and development of the Giro Project. For more information please
see the Burey website (www.bureygold.com).
The parties to the Term Sheet have agreed that the terms and
conditions provided in the Term Sheet are binding,
Panex is currently evaluating a number of potential exploration
properties to further benefit the current shareholders of
Panex.
ON BEHALF OF PANEX
Mark Gasson, Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains statements that plan for or
anticipate the future, called "forward-looking statements." In some
cases, you can identify forward-looking statements by terminology
such as "may", "will", "should", "could", "expects", "plans",
"intends", "anticipates", "believes", "estimates", "predicts",
"potential" or "continue" or the negative of those terms and other
comparable terminology.
These forward-looking statements appear in a number of
places in this press release and include, but are not limited to,
statements about: our market opportunity; revenue generation; our
strategies; competition; expected activities and expenditures as we
pursue our business plan; the adequacy of our available cash
resources; our ability to acquire properties on commercially viable
terms; challenges to our title to our properties; operating or
technical difficulties in connection with our exploration and
development activities; currency fluctuations; fluctuating market
prices for precious and base metals; the speculative nature of
precious and base metals exploration and development activities;
environmental risks and hazards; governmental regulations; and
conduct of operations in politically and economically less
developed areas of the world.
Many of these contingencies and uncertainties can affect our
actual results and could cause actual results to differ materially
from those expressed or implied in any forward-looking statements
made by, or on behalf of, us. Forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements. Specific reference is made to our most
recent annual report on Form 10KSB and other filings made by us
with the United States Securities and Exchange Commission for more
detailed discussions of the contingencies and uncertainties
enumerated above and the factors underlying the forward-looking
statements. These reports and filings may be inspected and copied
at the Public Reference Room maintained by the U.S. Securities and
Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549.
You can obtain information about operation of the Public Reference
Room by calling the U.S. Securities and Exchange Commission at
1-800-SEC-0330. The U.S. Securities and Exchange Commission also
maintains an Internet site that contains reports, proxy and
information statements, and other information regarding issuers
that file electronically with the U.S. Securities and Exchange
Commission at http://www.sec.gov.
We disclaim any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except to the extent
required by applicable laws.
This press release is for informational purposes only and is
not and should not be construed as an offer to solicit, buy, or
sell any security.
CUSIP No. 69841J 106
Panex Resources Inc.Mark Gasson(+41) 41 711 0281Panex Resources
Inc.Ross Doyle(+41) 41 711
0281info@coresco.chwww.panexresources.com
Panex Resources (CE) (USOTC:DBGF)
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