RE: Press releaseSOUTHERN ARC MINERALS INC. ("SA")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: December 10, 2009
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation
pertaining to a letter agreement dated October 23, 2009, as amended November
25, 2009 between Southern Arc Minerals Inc. (the 'Company') and Indotan Inc.
('Indotan', Lindsay Semple and Heath Ellingham), pursuant to which the Company
has completed documentation related to the acquisition of the Indotan name and
to the contract of work and the IUP for the Lombok and Sumbawa Properties. In
consideration, the Company will issue 3,500,000 shares, of which the Company
may repurchase 1,500,000 shares at a price of
.90 per share for an 18 month
period, and 500,000 shares at a price of
.50 per share for an 8 month
period. In addition, Indotan will be granted a 2% NSR on the Sumbawa Property
and a 1% NSR on the Lombok Property.