NEWS Release....Pascalis Blue Note Mining to sell Pascalis to Adventure Gold
Blue Note Mining Inc (2) (C:BNT)
Shares Issued 158,761,548
Last Close 9/12/2012 $0.02
Thursday September 13 2012 - News Release
Also Adventure Gold Inc (C:AGE) News Release
Mr. Leon Methot of Blue Note reports
BLUE NOTE SIGNS AGREEMENT TO SELL ITS PASCALIS PROPERTY
Blue Note Mining Inc. has completed an agreement to sell its Pascalis property located 26 kilometres east of Val d'Or.
Under the terms of the agreement, the company through its wholly owned subsidiary, X-Ore resources Inc., has agreed to sell to Adventure Gold Inc. (AGE) a 100-per-cent interest in 43 claims in exchange of payment by AGE of the sum of $75,000 in two instalments, the issuance of 500,000 AGE shares and the granting of a 2.0-per-cent net-smelter-return royalty (NSR) on the claims. AGE shall have the right to purchase 1.0 per cent of the NSR at any time by paying $1-million.
The securities to be issued by AGE to the company pursuant to the agreement will be subject to a four-month hold period from their date of issuance. The agreement is subject to regulatory approval.