Canuc Resources Corporation

  • ISIN: CA1389093040
  • Land: .

Nachricht vom 31.05.2017 | 15:44

Canuc Announces Agreement with the Ejido of San Javier

DGAP-News: Canuc Resources Corporation / Key word(s): Miscellaneous

31.05.2017 / 15:44
The issuer is solely responsible for the content of this announcement.


Toronto, Ontario--(Newsfile Corp. - May 31, 2017) - Canuc Resources Corporation (TSXV: CDA) ('Canuc' or the 'Company') is pleased to advise that the Company has signed a comprehensive agreement ('The Agreement') with the Ejido(1) of San Javier for lands around the San Javier Project.

The Agreement calls for exploration on 300 hectares of land and also provides binding terms for exploitation (mining) on an area of up to 1,000 hectares. The Agreement requires Canuc to pay $35,000 USD per year during exploration activities and up to $135,000 USD per year during the exploitation phase. The Agreement is binding and has a 25 year term with an additional 5 years provided under Agrarian Laws.

'We are very pleased to have been able to secure this landmark agreement with the Ejido of San Javier.' stated Chris Berlet, CEO. 'The Agreement is set up to cover both exploration and exploitation, and it represents a meaningful milestone for the Company as we progress with drilling and development of the San Javier Project.'

Ing. Marco Bernal Portillo, General Manager for Minera Stramin S. de R.L. de C.V. states 'Hemos estado en pláticas y negociaciones con los dirigentes del Ejido San Javier en San Javier, Sonora, con el fin de celebrar un contrato que nos permita desarrollar primero trabajos de exploración y posteriormente la construcción y explotación de una mina. Después de varios meses, hemos llegado a un acuerdo satisfactorio con el Ejido San Javier, un acuerdo justo que nos permitirá estar en condiciones para desarrollar un gran proyecto que se convertirá en una fuente generadora de empleos y riqueza en la región. Agradecemos el apoyo y respaldo que con su anuencia nos da el Ejido y sus integrantes para formar parte del desarrollo de esa región y del estado de Sonora, México.'(2)

Canuc anticipates commencement of drilling in June and will provide an update on exploration activities including soil sampling and structural analysis in the near future. Canuc is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle investor relations.

In consideration of the investor relations services to be provided, a monthly fee of up to $8,000 CDN may be incurred by Canuc. Services will begin on June 1, 2017 and will be carried out for an initial period of six months ending on November 30, 2017. Renmark Financial Communications does not have any interest, directly or indirectly, in Canuc Resources Corporation or its securities, or any right or intent to acquire such an interest.

About Canuc

Canuc is a junior resources company engaged in the exploration and development of mineral properties in North America. In addition, the company is active in the development of a natural gas field in Central West Texas where it has an interest in seven producing gas wells. These wells generate a sustainable cash-flow with the potential to increase income by the drilling and completion of additional wells.

For more information on the content of this release or about Canuc, please contact:

Christopher J. Berlet, CFA
CEO
(416) 525 - 6869
cberlet@canucresources.ca

Renmark Financial Communications Inc.
Daniel Gordon: (416) 644 — 2020 (ext. 3407)
dgordon@renmarkfinancial.com

Footnotes:

  (1) Ejido Definition: An area of communal land used for agriculture, on which community members individually farm designated parcels and collectively maintain communal holdings. Ejidos are registered with Mexico's National Agrarian Registry (Registro Agrario Nacional).
     
  (2) Translation, Ing. Marco Bernal Portillo comments:
     
    'We have been in negotiations with the leaders of the San Javier Ejido in San Javier, Sonora, in an effort to conclude a contract that allows us to develop exploration works first and then also permits the construction and operation of a mine. After months of talks and negotiations, we have reached a satisfactory agreement with the Ejido of San Javier, a fair agreement that will allow us to be able to develop a great project that will become a source of employment and wealth in the region. Consent provides that the Ejido and its members will be a part of developments in the region and in the State of Sonora, Mexico.'
     

Disclaimer and Forward-Looking Statements

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 of this release.

Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words 'estimate', 'project', 'anticipate', 'expect', 'intend', 'believe', 'hope', 'may' and similar expressions, as well as 'will', 'shall' and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company's annual financial statements and MD&A.

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/27093


31.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Management Interview

mic AG: „Lassen Sie sich überraschen!“

Neustart für die mic AG: Mit frischem Kapital will die Münchner Beteiligungsgesellschaft neue Wachstumsfelder in den Bereichen Blockchain und Fintech erschließen: „Mit einer großen Gesellschaft in der Softwareentwicklung im Blockchain-Bereich bin ich in konkreten Verhandlungen“, verrät mic-Vorstand Andreas Empl im Interview mit Financial.de. Die mic-Aktie sieht er weit unter Wert gehandelt: „Dem jetzigen Portfoliowert von über 20 Mio. Euro steht eine Börsenbewertung von nur rund 10 Mio. Euro gegenüber.“

GBC im Fokus

M1 Kliniken AG: Kursziel angehoben

Die M1 Kliniken AG hat den eingeschlagenen Wachstumskurs mit einem Umsatzanstieg von 20,3 % auch im ersten Halbjahr fortgesetzt. Analog dazu gelang es der Gesellschaft, einen überproportionalen Anstieg des EBIT um 36,5% zu erreichen und unsere Erwartungen zu übertreffen. Wir haben auf dieser Grundlage unsere Umsatz- und Ergebnisschätzungen angehoben. Bei einem Kursziel von 16,15 € ergibt sich ein hohes Kurspotenzial - damit lautet das Rating KAUFEN.

News im Fokus

Vonovia SE: Vonovia und die französische Groupe SNI unterzeichnen Partnerschaftsvereinbarung (News mit Zusatzmaterial)

18. Oktober 2017, 12:50

Aktueller Webcast

Vonovia SE

Memorandum of Understanding Signed with France’s Largest Residential Landlord Société Nationale Immobilière (SNI)

18. Oktober 2017

Aktuelle Research-Studie

FinTech Group AG

Original-Research: FinTech Group AG (von GBC AG): Kaufen

19. Oktober 2017