Graniz Mondal Inc. Enters Into Amending Agreement With Nightstar Resources Inc. and Announces Appointment of New Director
September 27 2011 - 4:24PM
Marketwired
Graniz Mondal Inc. ("Graniz")(NEX: GRA.H) announces that it has
entered into amending agreement (the "Amending Agreement") with
respect to the option agreement ("Original Agreement") that it
entered into on June 30, 2011 with Nightstar Resources Inc.
("Nightstar"). Pursuant to the Original Agreement, Nightstar
granted to Graniz the option (the "Option") to acquire a 60%
undivided interest in a property owned by Nightstar in LaRonge,
Saskatchewan (the "Property").
The Amending Agreement provides that in order to exercise the
Option and acquire the 60% interest in the Property, Graniz must
make the following payments and complete all of the following
transactions:
a. pay to Nightstar the following cash amounts, on and not before the
following dates:
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Date Cash Amount
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June 30, 2012 $200,000
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June 30, 2013 $200,000
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June 30, 2014 $300,000
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b. complete an equity financing of $1,000,000 by December 15, 2011;
c. graduate to Tier 2 of the TSX Venture Exchange by December 15, 2011; and
d. acquire additional mining claims in Canada by December 15, 2011.
Except for the amendments referred to above, all provisions of
the Original Agreement remain in full force and effect.
Graniz also announces that on September 6, 2011 Michel Lusignan
was appointed as a director of Graniz. Mr. Lusignan is a business
lawyer and has been a member of the Quebec Bar since 1982. He has
acted as Secretary of and Legal Counsel to Graniz since July 2001
and has been involved with numerous public mining companies since
1996.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has passed upon the merits of the Original
Agreement, Amending Agreement or any transaction contemplated
thereby nor accepts responsibility for the adequacy or accuracy of
this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. The foregoing information may contain
forward-looking statements relating to the future performance of
Graniz Mondal Inc. Forward-looking statements, specifically those
concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially from
Graniz's plans and expectations. These plans, expectations, risks
and uncertainties are detailed herein and from time to time in the
filings made by Graniz with the TSX Venture Exchange/NEX and
securities regulators. Graniz does not assume any obligation to
update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Contacts: Graniz Mondal Inc. Richard-Marc Lacasse President
(418) 564-8834