Nitinat Acquires Property in the Province of Quebec
June 27 2011 - 10:03AM
Marketwired Canada
Nitinat Minerals Corporation (TSX VENTURE:NZZ) ("Nitinat") is pleased to
announce that it has entered into an option agreement dated June 13, 2011 (the
"Agreement") with an arm's length party (the "Optionor") to acquire an undivided
100% in certain mining claims located in Chibougamau in the Province of Quebec.
Pursuant to the terms of the Agreement, Nitinat is to pay the Optionor a cash
pay $500,000 and issue an aggregate of 2,900,0000 common shares. The issuance of
the shares is subject to the approval of the TSX Venture Exchange and will be
subject to all applicable statutory resale restrictions. In addition, upon
achieving certain exploration milestones, Nitinat will issue an additional
1,500,000 common shares and pay an aggregate of $1,500,000.
This update contains "forward looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Generally, these forward looking statements can
be identified by the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Nitinat is subject to significant
risks and uncertainties which may cause the actual results, performance or
achievements to be materially different from any future results, performance, or
achievements expressed or implied by the forward looking statements contained in
this release. Nitinat cannot assure investors that actual results will be
consistent with these forward looking statements and Nitinat assumes no
obligation to update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.
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