Creso Exploration Inc CRXEF

Hunter deal is off

[mhillman]

Creso receives Hunter notice ending Shining Tree JV
Ticker Symbol: C:CXT

Creso receives Hunter notice ending Shining Tree JV

Creso Exploration Inc(C:CXT)
Shares Issued 83,931,288
Last Close6/15/2011
.22
Thursday June 16 2011 - News Release

Mr. Robert Casaceli reports

HUNTER DICKINSON TERMINATES SHINING TREE LETTER AGREEMENT WITH CRESO

Creso Exploration Inc. has received notification from Hunter DickinsonResources Ltd. that it will not proceed with the joint venturetransaction as defined in the letter agreement announced on April 29,2011. Creso is currently awaiting assay results from the drill programdesigned to fulfill certain work commitments on five Shining Treeproperties, as announced on May 19, 2011. The corporation has also beguna channel sampling and selective Winkie drill program at its Downeyproperty in Asquith township (news release of May 27, 2011).

We seek Safe Harbor.

[wadeja]

Yikes..... not what I was expecting.  Oh well, we go it alone for now.

[smithgee]

Well it was oversold at .21, so now really oversold.They still have the assets they had when the Hunter deal was announced and was trading at .38 ... I averaged down at .145 and .16.Will wait for the next set of assays.

[daffid]

If you were HD and this was part of the deal , what wouldyou do? The initial private placement will consist of 1 millionunits at a subscription price of .50 each, with each unit consisting of onecommon Creso share and one full warrant entitling the holder to subscribe withintwo years for one common Creso share at .65.