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Sacre-Coeur Minerals Ltd
Symbol SCM
Shares Issued 66,267,371
Close 2014-07-22 C$ 0.02
Market Cap C$ 1,325,347
Recent Sedar Documents

Sacre-Coeur demanded $301,698 (U.S.) debt by Alphoso

2014-07-24 12:59 ET - News Release

An anonymous director reports

SACRE-COEUR MINERALS RECEIVES PROPERTY DEMAND NOTICE FROM ALPHONSO

Sacre-Coeur Minerals Ltd. has received a demand notice from Alfro Alphonso for the payment of the sum of $301,698 (U.S.). This amount reflects the reimbursement of property payments made by Mr. Alphonso to the Guyana Geology and Mining Commission, on behalf of the company, and relates to licences held under an agreement the company entered into with Mr. Alphonso dated March 22, 2005, as amended.

The mining agreement covers a substantial portion of the licence area in the company's mining portfolio, including the company's Million Mountain property. If the demand amount is not paid by Aug. 17, 2014, the company shall be deemed to be in default and shall lose its interest in licences held under the mining agreement.

The company continues to work with the two financiers disclosed in its July 17, 2014, press release with respect to a new secured non-equity financing to raise up to $12-million (U.S.). Updates from the two financing sources indicate that their respective issues are expected to soon be resolved to permit closing as anticipated to pay all property payments as above, and to solidly recapitalize the company for execution of its development and production plans.

We seek Safe Harbor.

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