Canasia Signs Option for Quebec Rare Earth Property

- January 6th, 2012

Canasia Industries Corporation (TSXV:CAJ,OTC Pink:CANSF,FWB:45C) announced it now has the option to acquire Quebec-based rare earth prospects.

Canasia Industries Corporation (TSXV:CAJ,OTC Pink:CANSF,FWB:45C) announced it now has the option to acquire Quebec-based rare earth prospects.

As quoted in the press release:

Terms of the new agreement are $20,000 and five million shares upon closing, as well as five million shares within 13 months of closing. Work commitments are: $100,000 in the first 18 months, $250,000 within the first 30 months and $500,000 within 42 months.

Canasia’s President, Negar Adam said:

A work program is anticipated to commence in the coming months to test for aluminous clay and rare earths over the extent of the prospect.

Click here for the Canasia Industries Corporation (TSXV:CAJ) press release.

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