Cap-Ex Closes Acquisition of Labrador/Quebec Iron Ore Properties

Cap-Ex Ventures Ltd. (TSXV:CEV) acquires 100% interest in a group of Labrador/Quebec Iron Ore properties from Mandu Resources Ltd.

The press release is quoted as saying:

The total consideration for the Schefferville Properties was a cash payment of $275,000 and the issuance of a total of 5,000,000 common shares (the “Shares”) of Cap-Ex to the Vendors. The Shares are subject to resale restrictions equivalent to those of a TSX-Venture Exchange Tier II Value Escrow Security Agreement. In addition, all of the Shares are subject to a four month Exchange hold period expiring four months from the date of issuance.

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