Canadian International to Acquire Database from Kaminak Gold

- January 22nd, 2016

Canadian International Minerals Inc. (TSXV:CIN) announced that it’s entered into an agreement to acquire an “extensive proprietary database” from Kaminak Gold Corp. (TSXV:KAM).

Canadian International Minerals Inc. (TSXV:CIN) announced that it’s entered into an agreement to acquire an “extensive proprietary database” from Kaminak Gold Corp. (TSXV:KAM). The database relates to Canadian International’s Quebec-based Manitou nickel-copper-PGMs property.
As quoted in the press release:

The database includes raw airborne magnetic and EM data, as well as an interpretive report by Grant Lockhart of Petra Geophysical Consulting Inc. The Company believes the targets detailed in this report, which have never been drilled, represent excellent quality targets for Ni-Cu-PGM mineralization.

Terms of the deal are as follows:

Under the terms of the agreement, the Company will issue 3,500,000 units to Kaminak, each unit consisting of one common share and one share purchase warrant, each warrant exercisable into one additional common share at a price of $0.10 per share for a period of 3 years.
In addition, the Company has granted Kaminak a 1% NSR on the Lac Manitou property, which includes an area of interest corresponding to the spatial extents of the database.

Click here to read the full Canadian International Minerals Inc. (TSXV:CIN) press release.

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