International Zeolite Corp. V.CNZ

RE:Who's Pull'n The Wool Over Who's Eyes

[jjeerryy]

phantom666 wrote:
Effective July 1, 2006, the Company entered into an option agreement (Option Agreement) with Heemskirk Canada Limited, an Alberta Company (HCL) pursuant to which HCL was granted an option to purchase a 100% interest in the Companys Bromley Creek zeolite project in consideration of a total purchase price of $1,450,000 (the Purchase Price) payable by an initial payment of $100,000 upon signing the option agreement (paid) and a royalty payment of $7.50 per metric ton of zeolite product mined and removed by HCL from the Bromley Creek project during the option period. The option expired on July 1, 2010. On August 30, 2010 the Company and Heemskirk agreed to extend the Option to Purchase until June 30, 2015. Under the terms of the extended Option, Heemskirk is responsible for all mining, loading areas, road access, reclamation reports and insurance and continues to pay the Company a royalty of $7.50 per tonne on zeolite sold from the mine. As at March 31, 2011, the Company had posted reclamation bonds of $15,000 in respect of it

phantom666, gotta love your posts. They are going to hate you, depths, Sly and dart and all their pump puppets.