Canadian International Minerals Gains Full Interest in Reindeer River Syndicate

Canadian International Minerals Inc. (TSXV:CIN) has acquired a 100 percent interest in the private Reindeer River Syndicate. The Syndicate had acquired full interest in 33 claims totalling 67,350 hectares through staking.

As quoted in the press release:

The Company originally held a 25% interest in the Syndicate (see news release dated March 13, 2014) and has now entered into a Purchase Agreement to acquire the remaining 75% interest from the other Syndicate holders, by paying a total of $50,700 and issuing a total of 3,000,000 common shares. The 75% Syndicate holders will retain a 3% royalty of which the Company may purchase 1% for $250,000 and a further 1% for $1,500,000 at any time. The Syndicate holders have agreed to a voluntary pooling whereby 25% of the shares will be eligible to trade after expiry of the four month and one day regulatory hold periods, 50% will be free-trading three months thereafter and the remaining 25% will be free-trading six months thereafter.

Click here to read the Canadian International Minerals Inc. (TSXV:CIN) press release