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    Cavan Ventures Acquires Option for Quebec Rare Earth Claims

    Investing News Network
    Mar. 07, 2013 12:04PM PST
    Rare Earth Investing

    Cavan Ventures (TSXV:CVN) announced that they have acquired new options for rare earth claims, located in Quebec

    Cavan Ventures (TSXV:CVN) announced that they have acquired new options for rare earth claims, located in Quebec.

    As quoted in the press release:

    The four mining properties were acquired from three well-renowned prospectors. CAVAN can earn a 70% interest in the four mining properties by issuing the optionors a total of 1,500,000 shares over a period of two years and making two cash payments totalling $35,000 of which $15,000 is payable upon signing. The Company must spend a minimum of $60,000.00 during the first year of the agreement. Claims are subject to a 2% net smelter return of which the Company may buy back 1% for the sum of $1,500,000 and has the first right of refusal to purchase the balance of the royalty as well as the remaining 30% interest. The acquisition of the claims is subject to acceptance by the TSX Venture Exchange.

    To view the whole press release, click here. 

    cavan venturestsxv:cvn
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