Shoreham Resources Ltd. (CVE:SMH) reports that it has entered into a private placement as well as Guyana properties agreement.
The press release is quoted as saying:
As part of the Letter Agreement, and subject to certain conditions, Shoreham will grant Teck certain rights, as described below, regarding Shoreham’s exploration properties (the “Properties”) located in Guyana, South America.
Shoreham’s Chairman, Warren Stanyer says:
“Shoreham is pleased to enter into this strategic alliance with Teck, one of Canada’s iconic mining companies.”“If Teck exercise all of its Warrants, Shoreham would receive total proceeds from this Placement of $6,650,000. We look forward to a strong working relationship with Teck in the years to come.”