Iciena completes option for 118 B.C. mineral claimThis could be the hold up as to why the delay? Because it was announced just prior to Iciena's YEAR END.....
Iciena completes option for 118 B.C. mineral claims
Iciena Ventures Inc (C:IIE)
Shares Issued 108,820,241
Last Close 8/6/2008 $0.05
Monday August 11 2008 - News Release
Mr. Roy Shatzko reports
ICIENA ACQUIRED THE OPTION TO PURCHASE 118 MINERAL CLAIMS IN CENTRAL BRITISH COLUMBIA
Iciena Ventures Inc., further to the news release reported in Stockwatch on March 28, 2008, has now acquired the option to purchase a 100-per-cent interest in 118 contiguous mineral exploration claims located in central British Columbia consisting of approximately 2,186 hectares. In connection with the option, the company has issued 60,000 common shares in the capital of the company to each of Joseph Lawrence, John Ostler and Bruce Squinas, and paid a total of $30,000 to the optionors. The 180,000 shares have a hold period expiring on Nov. 29, 2008.
In order for the company to maintain its interest in the claims, the company is required to pay the optionors another $180,000 over a five-year period payable in multiple tranches. Upon completion of these cash payments, the company will have earned a 100-per-cent interest in the claims, subject only to a 1.5-per-cent net smelter return in favour of the optionors.
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