Lakeside Minerals Inc. Announces Amendment to Launay Property Agreement
18 Juni 2014 - 10:27PM
Marketwired
Lakeside Minerals Inc. Announces Amendment to Launay Property
Agreement
TORONTO, ONTARIO--(Marketwired - Jun 18, 2014) - Lakeside
Minerals Inc. (TSX-VENTURE:LAK) (the "Company") is pleased to
announce it has amended the terms to its Launay property agreement
(which had been was entered into prior to listing).
The final payment of the $45,000 which had been due on June 1st,
2014 has now been restructured as follows:
- $30,000 will be payable in shares for a total issuance of
600,000 shares at $0.05
- $15,000 will be payable on June 30th, 2014
- An additional $15,000 will be payable on December 15th,
2014
The December 15th payment will be the final property payment
after which Lakeside will have no further obligations to the
vendors under the agreement. All other terms of the agreement of
the Launay property remain the same. The issuance of common shares
of the Company as consideration for the amendment of the Launay
property agreement is subject to the final approval of the TSX
Venture Exchange. The issuance of the Shares will not result in a
change of control of the Company and will be subject to a
four-month hold period from the date of issuance.
About Lakeside Minerals Inc.
Lakeside Minerals Inc. is engaged in acquiring, exploring, and
developing mineral properties. The Company's flagship Launay
property is 102.5 km2 land package located in the heart of the
Abitibi, 48 km northeast of Rouyn-Noranda. The Launay property
straddles nearly 22 km of the Macamic deformation zone: a major
deformation zone in the Abitibi subprovince located north of the
Porcupine-Destor deformation zone. Claims cover a 17 km long trend
of known gold occurrences, several of which display significant
historical and recent gold drill intersections. Lakeside is also
pursuing potential acquisitions of interests in undervalued mineral
exploration properties with a view to long term value appreciation
and the eventual development of a "project generator" business
model.
FORWARD-LOOKING STATEMENTS: Certain of the
information contained in this news release may contain
"forward-looking information". Forward-looking information and
statements may include, among others, statements regarding the
future plans, costs, objectives or performance of Lakeside Minerals
Inc. (the "Company"), or the assumptions underlying any of the
foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate",
"intend", "plan", "estimate" and similar words and the negative
form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether, or the times at or by which, such future
performance will be achieved. Forward-looking statements and
information are based on information available at the time and/or
management's good-faith belief with respect to future events and
are subject to known or unknown risks, uncertainties, assumptions
and other unpredictable factors, many of which are beyond the
Company's control. The Company does not intend, nor does the
Company undertake any obligation, to update or revise any
forward-looking information or statements contained in this news
release to reflect subsequent information, events or circumstances
or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Lakeside Minerals Inc.Yannis BanksPresident and CEO(416)
777-6169ybanks@foundationmarkets.comwww.lakesideminerals.com
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