Primary Energy Metals Inc. (CSE:Prim, FSE:1WZ:GR, OTC:PEMTD-0) (“Primary” or the “Company”) is pleased to announce it has signed an arm’s length letter of agreement (“LOA”) with Blue Lagoon Capital Inc. (“Blue Lagoon”), pursuant to which Blue Lagoon will have the right to acquire the Company’s RD Gold/Cobalt Properties.
Primary Energy Metals Inc. (CSE:Prim, FSE:1WZ:GR, OTC:PEMTD-0) (“Primary” or the “Company”) is pleased to announce it has signed an arm’s length letter of agreement (“LOA”) with Blue Lagoon Capital Inc. (“Blue Lagoon”), pursuant to which Blue Lagoon will have the right to acquire the Company’s RD Gold/Cobalt Properties. In consideration for the acquisition, Blue Lagoon will make cash payments totaling $25,000, with $15,000 on execution of the LOA.
Primary has the mining rights to the RD Gold/Cobalt Property, which is located in west central British Columbia, Canada, in the Hazelton area, on NTS map sheet 093M03 (BCGS map sheets 093M012, 013, 022, and 023). The area lies at the north end of the Rocher Deboule Range, near the junction of the Bulkley and Skeena Rivers. The Property comprises five contiguous mineral claims that cover an area of approximately 7,327.32ha.
Completion of the transaction with Blue Lagoon is subject to completion of filings with the Canadian Securities Exchange, confirmation as to title to the RD Cobalt Property and negotiation of a definitive agreement with Blue Lagoon.
PRIMARY ENERGY METALS INC. (CSE: PRIM FSE: 1WZ:GR OTC: PEMTD-O) is a listed company on the Canadian Stock Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and President
Telephone: +1 778-735-1000
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward- looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co- operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.