New property for FYI portfolio. Hope its good Galena Capital to acquire 51% of Iron Horse
Galena Capital Corp (2) (C:FYI)
Shares Issued 25,850,193
Last Close 3/6/2012
.055
Wednesday March 07 2012 - News Release
Mr. Michael Sweatman reports
GALENA CAPITAL CORP. ACQUIRES IRON ORE PROPERTY
Galena Capital Corp. has executed an agreement to purchase a 51-per-cent interest in the Iron Horse property. The property consists of 19 tenures, comprising an aggregate of 7,787.3 hectares located in the Skeena and Liard mining divisions of British Columbia.
The terms of the acquisition provide for the payment of $100,000 cash and 8,492,000 shares to be issued to the vendors on closing. One of the vendors will retain a 2-per-cent net smelter return royalty. The transaction is subject to regulatory acceptance.