Blue Note signs agreement to sell its Pascalis property
September 13 2012 - 8:30AM
PR Newswire (Canada)
MONTREAL, Sept. 13, 2012 /CNW Telbec/ - Blue Note Mining Inc. (the
"Company") announces completion of an agreement to sell its
Pascalis property located 26 kilometers east of Val-d'Or. Under the
terms of the agreement, the Company through its wholly-owned
subsidiary X-Ore resources Inc. has agreed to sell to Adventure
Gold Inc.(AGE) a 100% interest in 43 claims in exchange of payment
by AGE of the sum of 75,000$ in two installments, the issuance of
500,000 AGE shares and the granting of a 2.0% Net Smeller Royalty
(NSR) on the claims. AGE shall have the right to purchase 1.0% of
the NSR at any time by paying 1,000,000$. The securities to be
issued by AGE to the Company pursuant to the agreement will be
subject to a four-month hold period from their date of issuance.
The agreement is subject to regulatory approval. About Blue Note
Mining Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal with gold properties located in the
prolific Val d'Or region of Quebec. Blue Note also holds
significant positions in the share capital of Amex Exploration
(AMX.V) and GeoVenCap (GOV.V). Forward-Looking Statements: This
news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws
that involve risks and uncertainties. Although the company believes
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, it can give no assurances that its
expectations will be achieved. Factors that could cause actual
results to differ materially from expectations include the effects
of general economic conditions, actions by government authorities,
uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products
and competitive pressures. These factors and others are more fully
discussed in Company filings with Canadian securities regulatory
authorities. "Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release." BLUE NOTE MINING INC. CONTACT: Leon
MethotPresident and Chief Executive Officer514-486-3095
x255lmethot@bluenotemining.cawww.bluenotemining.ca
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