Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Foremost Clean Energy Ltd C.FAT

Alternate Symbol(s):  FMST

Foremost Clean Energy Ltd, formerly Foremost Lithium Resource & Technology Ltd., is a uranium and lithium exploration company with interests in 10 prospective properties spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin. The Company also maintains a secondary portfolio of lithium projects at different stages of development spanning over 50,000 acres across Manitoba and Quebec. Seven properties comprise its Easern Athabasca Uranium Properties, which include Murphy Lake South, Hatchet Lake, Turkey Lake, Torwalt, Marten, Wolverine and Epp Lake. Its Blue-Sky uranium projects located within the western portion span approximately 102,000 hectares in the Athabasca Basin consisting of three projects: Blackwing, GR Property and CLK Property. Its lithium projects include Zoro Lithium Project, Jean Lake Lithium-Gold Project, Peg North Project, Grass River Claims Project, and Jol Lithium Project. Winston Group of Properties is its Gold and Silver Project.


CSE:FAT - Post by User

Bullboard Posts
Post by Uknowiton Nov 30, 2017 8:53am
95 Views
Post# 27061792

DTC is here at last

DTC is here at last
 

Far Resources Provides Corporate Update

November 30, 2017 – Vancouver, BC:  Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTCPK:FRRSF) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to provide an update on several corporate matters currently underway.

Zoro1 Claim 

The Company acquired the Zoro1 claim covering approximately 52 hectares near Wekusko Lake in western Manitoba under an agreement with Top Notch Marketing Ltd., R. Ross Blusson and Double-U-Em Investments Ltd. (the “Vendors”).  The Zoro1 claim is part of the Company’s Zoro Lithium Property.  In May, 2017, the Company acquired the Zoro 1 claim by accelerating its original option (see news releases dated April 28, 2016 and May 9, 2017) in exchange for a payment to the Vendors of a total of 6,000,000 common shares of the Company at a deemed price of $0.10 per share (the “Payment Shares”) and a non-interest bearing promissory note for C$100,000 payable in 12 months from the closing of the agreement with the Vendors (the “Promissory Note”).  The Promissory Note may be prepaid at any time without penalty.

The Company is pleased to announce that the Vendors have agreed to accept payment of the Promissory Note in Common shares of the Company instead of cash with such payment to be made immediately at a deemed price of  $0.89 per share.

DTC Eligibility

The Company is pleased to provide an update on its application for DTC eligibility for its common shares as announced in a news release dated October 11, 2017.  Far Resources’ common shares have been made eligible for delivery and depository services of The Depository Trust Company (the "DTC") to facilitate electronic settlement of transfers of its common shares in the United States.  In the US markets, the Company’s common shares are quoted under the symbol FRRSF.  The CUSIP number is the same for both the US and Canada: 30734R100.

Annual and General Special Meeting

The Company also provides an update on its previously announced annual general and special meeting to be held in connection with, among other things, a proposed plan of arrangement (the “Meeting”).

The Meeting was originally announced for Tuesday, December 5, 2017.  The Company will now reschedule the Meeting to allow time to prepare all the shareholder materials required for the plan of arrangement (the “Plan of Arrangement”).   This change of meeting date will have no effect on existing shareholders eligibility to participate in the Plan of Arrangement.  The record date for shareholders to receive spin out shares from the Plan of Arrangement will be after the Meeting.  As long as existing shareholders remain shareholders as of the share distribution record date to be determined for the Plan of Arrangement, they will be eligible to participate in the Plan of Arrangement.  Full details of the Plan of Arrangement will be provided in a Management Information Circular (the “Information Circular”) that will be mailed in advance of the Meeting and publicly posted on Sedar (www.sedar.com).

Options

The Company also announces that it has granted 1,750,000 options to acquire common shares in the equity of the Company to certain officers, directors and consultants (the “Options”).  Each Option is exercisable into one (1) common share in the equity of the Company at an exercise price of $0.89 per option share, expiring 5 years from date of grant.  The issuance of securities described in this news release are subject to acceptance by the Canadian Securities Exchange. All amounts quoted in this news release are in Canadian funds. 

About the Company

Far Resources Ltd. is an exploration company, publicly traded on the Canadian Securities Exchange under the symbol FAT, focused on the identification and development of high potential mineral opportunities in stable jurisdictions.  Far Resources may acquire or option properties of merit to meet its ongoing goal to locate, advance and unlock the potential of these mineral opportunities.  Far Resources has two option agreements in place.  The Zoro Lithium Property covers a number of known lithium pegmatite occurrences and is located near Snow Lake, MB.  Manitoba has been ranked as the world’s second best jurisdiction for mining investment by the Fraser Institute. The second option is on the Winston Property in New Mexico, USA, another historic mining property with potential for silver and gold; New Mexico is also listed by the Fraser Institute, ranking in the top 25 mining jurisdictions in the world.  Please visit our updated website at www.farresources.com  for full details on our current projects. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.

###

ON BEHALF OF THE BOARD OF DIRECTORS OF 

FAR RESOURCES LTD. 

Keith C. Anderson, President

 

Bullboard Posts