OTCPK:CTNXF - Post by User
Post by
chartroomon Nov 26, 2006 2:12pm
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Post# 11752068
CGP is gonna own 40% of CPP??... NICE...LOL
CGP is gonna own 40% of CPP??... NICE...LOLCoastport Capital Inc. (TSXV-CPP). The agreement gives Coastport the right to acquire 100% of the Shyri property by;
| 1) expending US$8 million to fund all exploration programs and making option payments to Cornerstone of US$490,000 in cash and US$490,000 cash equivalent in shares, all over a period of 4 years or less; and after these requirements are met, |
2) issuing shares to Cornerstone equal to 40% of Coastport's fully diluted share capital and granting Cornerstone a 1% net smelter royalty. Cornerstone is the operator until earn-in. |