Pele Mountain Resources Sells Pigeon River Project to Zara Resources

Pele Mountain Resources Inc. (TSXV:GEM, OTCQX:GOLDF) announced that they have sold their Pigeon River project to Zara Resources Inc. (CNSX:ZRI) $700,000 payable in Zara stock.

As quoted in the press release:

Pele will receive its consideration in the form of 2.25-million Common Shares of Zara at an issue price of $0.10 per share, and 4.75-million Non Voting Convertible 5-percent Preference Shares of Zara, also at an issue price of $0.10 per share. The Preference Share annual yield of 5.0 percent will be payable in common shares of Zara at the prevailing market price.

Pele’s President and CEO,  Al Shefsky, said:


To view the whole press release, click here.

Get the Latest Rare Earth Investing Stock Information

Get the latest information about companies associated with Rare Earth Investing delivered directly to your inbox.

Rare Earth

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.


Leave a Reply