01:47:59 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



GeoNovus Media Corp
Symbol GNM
Shares Issued 51,534,402
Close 2015-05-20 C$ 0.02
Market Cap C$ 1,030,688
Recent Sedar Documents

Glenmark earns 100% interest in Scotia project

2015-05-21 15:26 ET - News Release

See News Release (C-GLM) Glenmark Capital Corp

Mr. Peter Born of Glenmark reports

GLEMMARK RECIEVES APPROVAL FOR AMENDED SCOTIA AGREEMENT

On May 20, 2015, the TSX Venture Exchange accepted for filing an amendment to Glenmark Capital Corp.'s original agreement with GeoNovus Media Corp. dated Nov. 11, 2014, to acquire a 100-per-cent interest in the Scotia zinc-silver project, which covers an area of approximately 4,040 hectares in the Skeena mining division, located approximately 40 kilometres southeast of Prince Rupert in west-central British Columbia, Canada.

Under the amended terms, Glenmark has earned a 100-per-cent interest in the Scotia project by issuing one million common shares, which will be subject to a statutory hold period of four months plus a day from the date of issuance. The company made a cash payment of $75,000 to GeoNovus Media in January of 2015. The 100-per-cent interest is subject to an underlying 2-per-cent net smelter royalty, payable to Doublestar Resources Ltd., of which 1 per cent can be purchased by Glenmark for $1-million.

The technical contents of this news release have been prepared under the supervision of Peter Born, PGeo. Mr. Born is a qualified person as defined in National Instrument 43-101 and has approved this news release.

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