MONTREAL, QUEBEC--(Marketwired - Dec. 5, 2013) - Synergy Acquisition Corp. (the "Company") (CNSX:QMP) is pleased to announce the signing of a property sales agreement with Ditem Exploration ("Ditem") for the Detour Trend North Property (the "Property "). The property, consists of two blocks totaling 261 mining claims covering 13,800 hectares.
Under the sales agreement and subject to regulatory approval, Ditem acquires 100% of the rights and interests of the Company's Detour Trend North property by issuing 6,000,000 common shares of Ditem to the Company. In addition, Ditem grants to the Company a royalty of 1.0% (NSR). Ditem has the option to purchase one-half (0.5%) of the NSR for a cash consideration of $500,000 payable to Synergy.
Terms of the sale agreement
Under the agreement to acquire a 100% interest in the Property, Ditem must issue shares as follows:
| Period |
Shares |
| Following TSX V approval |
6 000 000 |
| Total |
6 000 000 |
About Synergy
Synergy targets the excellent mineral potential of Quebec to make discoveries of new world-class deposits. Synergy is the ideal partner for exploration companies as well as for capital pool companies looking for qualified transaction projects of merit. Synergy intends to enter into other agreements with respect to its properties. Management is currently evaluating other growth opportunities among its portfolio of mineral properties newly acquired to enhance shareholders' value in the short term.
This press release contains certain forward-looking statements that involve a number of risks and uncertainties, and there can be no assurance that such statements will prove accurate. As a result, actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties are described in the annual report and in the filings made by the Company with securities regulatory authorities.
Neither the CNSX Exchange nor its Regulation Services Provider accepts responsibility whatsoever for the adequacy or accuracy of this release.