Lions Gate Terminate Annual Fee to Standard Exploration Ltd.

Lions Gate Metals Inc.(TSXV:LGM) announced the settlement and termination of an annual fee at its Poplar project. The annual fee of $75,000 was paid in full on February 29, 2012 to Standard Exploration Ltd.

As quoted in the press release:

Lions Gate Metals has terminated the annual payment of CDN $75,000.00 due each year on December 6 by purchasing the option from Standard Exploration Ltd. for consideration of $350,000.00.

Lions Gate, President and CEO, Paul Sarjeant, commented:

Removing the obligation of the annual fee on the Poplar Project further demonstrates management’s dedication to ensure Lions Gate’s projects are free from as many burdens as possible to enhance the Company’s worth and drive shareholder value.

Click here to read the Lions Gate Metals Inc. (TSXV:LGM) press release