One World Investments Inc.: News Release
08 April 2011 - 11:37PM
Marketwired
One World Investments Inc. (TSX VENTURE: OWI) ("One World" or the
"Company") is pleased to announce that it has reached agreement in
principle to acquire an 80% interest in five highly prospective
gold-copper-silver properties in Region III, Chile. The properties
are currently owned by a private Chilean company which has the
largest private mineral property portfolio in Region III.
The properties cover approximately 26,000 acres and are known as
Chanarcillo, Yerbas Buenas, Pircas, Chimbeos and Lomas Bayas. One
World will issue an aggregate of 17,500,000 shares and pay an
aggregate of $500,000 cash to acquire an 80% interest in each of
the properties and will fund 100% of all costs up to the completion
of a positive feasibility study for each property. The property
vendor will retain a 1% net smelter returns royalty on each
property, up to a maximum of US$10,000,000 in royalty payments per
property. One World will make an advance royalty payment of
$100,000 on each property.
Chanarcillo and Yerbas Buenas are currently the two material
properties in the package, and each is highly prospective for the
presence of Iron Oxide Copper Gold ("IOCG") deposit-type
mineralization. One World anticipates conducting drilling programs
on each of the Chanarcillo and Yerbas Buenas properties, totalling
approximately 15,000 metres, as well as at least one more of the
newly-acquired properties, in 2011.
One World will undergo a corporate restructuring as part of this
transaction, to include:
-- Settlement of debt for shares;
-- Appointment of new directors;
-- The sale of shares by existing controlling shareholders; and
-- Up to three private placements of securities for gross proceeds of up to
$8,600,000 to fund the exploration of the Chilean properties.
Further details of the transaction will be released as the
structure of the transaction is developed and finalized.
John Hiner, Consulting Mining Geologist, is the Qualified Person
retained for this project, and has reviewed and accepted the
contents of this news release. Mr. Hiner has over 35 years of
experience worldwide, including over ten years of experience in
Chile, including work on IOCG deposit types.
The transaction is subject to acceptance by the TSX Venture
Exchange and approval of the shareholders of One World.
ONE WORLD INVESTMENTS INC.
William Schmidt, Secretary
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: One World Investments Inc. Stanley Lanzet 604-218-2677
One World Investments Inc. Halsey Johnston 604-606-7967
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