New Cantech Ventur o. T.
2007-03-06 19:19 ET - News Release
Mr. Dalton DuPasquier reports
NEW CANTECH VENTURES INC. GRANTS OF OPTION TO PURCHASE 60% OF LUCKY SHIP MOLYBDENUM PROPERTY AND A CARRIED 60/40 JOINT VENTURE
New Cantech Ventures Inc. has received approval from the TSX Venture Exchange of an option agreement with Palm Clean Energy Inc. of Seoul, Korea, wherein Cantech granted Palm Clean an option to purchase a 60-per-cent interest in Cantech's Lucky Ship porphyry molybdenum property.
In order to exercise the 60-per-cent option, Palm Clean will be required, amongst other things, to put the Lucky Ship property into continuous production and to fully finance the resulting joint venture, including debt financing Cantech's portion of the 60/40 joint venture. Cantech is required to repay its 40 per cent of the total cost of the joint venture out of the cash flow from the joint venture. During the term of the option, Cantech is to be the operator.
Closing of Palm Clean's purchase of $1-million of units
Cantech has closed the private placement with Palm Clean wherein Palm Clean purchased $1-million of private placement units at the price of 50 cents per unit.
The units comprise one common share and one share purchase warrant. Each warrant entitles the holder to purchase a further common share of Cantech at the price of 75 cents in the first year and $1.00 in the second year.
All securities are subject to a four-month hold period expiring on June 17, 2007.
Pursuant to the terms of the option agreement between Cantech and Palm Clean, the $1-million private placement proceeds will be used for exploration and development on Cantech's Lucky Ship property.
Finder's fee
Up to a total of $2-million in cash could be paid to Sunkwang Lee in the event that Palm Clean satisfies all of the requirements outlined in the option agreement. Also, warrants exercisable at 50 cents per share for a period up to Nov. 13, 2008, have been issued to Mr. Lee. In the event that Palm Clean satisfies all of the requirements outlined in the option agreement, the warrants will be exercisable to purchase up to 450,000 common shares.
The total finder's fee payable (as described above) also includes the fees payable or proposed to be paid for concurrent financings (present and in the future) related to this transaction.
About Palm Clean
Palm Clean is in the resource development industry and consulting business worldwide. It is currently developing an open-pit coal mine and a deepwater sea port in Indonesia. Palm Clean also has a palm tree plantation in Indonesia and is constructing a plant to produce biodiesel fuel from palm oil.
Closing of private placement previously reported in Stockwatch news Dec. 8, 2006
Cantech has closed the private placement previously reported in Stockwatch news Dec. 8, 2006.
The private placement involved the sale of 545,455 units at the price of 55 cents per unit for proceeds of $300,000.25.
The units comprise one common share and one share purchase warrant. Each warrant entitles the holder to purchase a further common share of Cantech at the price of 75 cents in the first year and $1.00 in the second year.
All securities are subject to a four-month hold period expiring on June 17, 2007.
The proceeds from the sale of the units will be used for working capital purposes.
Cantech paid a finder's fee totalling $16,230.61 to Mr. Lee.
New Cantech Ventures erhält Genehmigung, eine Option über 60 % für das Lucky Ship Molybdän-Projekt zu vergeben und ein 60/40 Joint Venture einzugehen
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New Cantech Ventures Inc. (TSXV: NCV & FSE: C7X) ("Cantech"), im Folgenden kurz ‚die Gesellschaft' genannt, gibt den Aktionären wie auch der Öffentlichkeit bekannt, dass die Aufsicht der kanadischen Börse TSX Venture Exchange New Cantech Ventures Inc. soeben die formelle Erlaubnis erteilt hat, einen Optionsvertrag mit Palm Clean Energy Inc. von Seoul, Süd-Korea, einzugehen. Der Kern dieses Vertrages besagt, dass Palm Clean eine Option über 60 % am Eigentum von Cantech's Lucky Ship Porphyr- Molybdän Liegenschaft erworben hat.
Um diese 60 %-Option ausüben zu können, muss Palm Clean unter anderem das Lucky Ship-Projekt ins Stadium der kontinuierlichen Produktion überführen und das entstehende Joint Venture voll finanzieren. Dies schliesst die Kreditfinanzierung von Cantech's Anteil am 60/40 Joint Venture ein. Die Gesellschaft ist verpflichtet, ihren 40 %-igen Anteil an den Gesamtkosten des Joint Ventures aus dem Cashflow desselben zu bestreiten. Solange der Optionsvertrag läuft, verbleibt Cantech im Übrigen der Betreiber des Projektes und führt das operative Geschäft.
Abschluss des Kaufs von 1 Million Einheiten durch Palm Clean
Cantech hat somit auch den Vorgang der Privatplazierung mit Palm Clean abgeschlossen, im Rahmen dessen Palm Clean 1 Million $ Einheiten zum Preis von 50 Cents pro Stück übernahm. Jede dieser Einheiten besteht aus einer Stammaktie und einem Warrant, der zum späteren Kauf einer Aktie berechtigt. Der Ausübungspreis wurde mit 75 Cents im ersten Jahr und mit 1,00 $ für das zweite Jahr festgesetzt.
Alle diese Wertpapiere unterliegen einer Sperrfrist von vier Monaten, die am 17. Juni 2007 ausläuft. In Übereinstimmung mit den Konditionen des Optionsvertrages zwischen Cantech und Palm Clean, müssen die durch die 1 Million $- Privatplazierung zugeführten Mittel für die weitere Exploration und Entwicklung von Cantech's Lucky Ship Liegenschaft verwendet werden.
Finder's fee
Herr Sunkwang Lee erhält ein Finder's fee in Form einer auszuzahlenden Summe bis zu einer Höhe von insgesamt 2 Millionen $ in bar sobald Palm Clean alle Bedingungen des Optionsvertrages erfüllt hat. Im Weiteren wurden Warrants zum Ausübungspreis von 50 Cents pro eingetauschte Aktie an Herrn Lee ausgereicht. Das Verfalldatum der Ausübung ist der 13. November 2008. Insgesamt können diese Warrants zum Umtausch von höchstens 450.000 Stammaktien genutzt werden.
Das (wie oben beschriebene) auszuzahlende Finder's fee schliesst auch Beträge ein, die bereits im Rahmen von laufenden Finanzierungsvorgängen fällig waren oder künftig noch zu zahlen sind, sofern sie mit den genannten Transaktionen in Verbindung stehen.
Über Palm Clean
Palm Clean ist weltweit in der Branche der Ressourcen-Entwicklung und Beratung aktiv. Zurzeit entwickelt diese Gesellschaft einen Tagebau zur Gewinnung von Steinkohle wie auch einen Seehafen mit grossem Tiefgang in Indonesien. In diesem Land betreibt Palm Clean auch Palmen-Plantagen und baut eine Anlage zur Gewinnung von Bio-Diesel aus Palmöl.
Abschluss der Privatplazierung, über die Stockwatch news am 8. Dezember 2006 berichtete
Cantech hat die Privatplazierung, über die Stockwatch news bereits am 8. Dezember 2006 berichtet hatte, ebenfalls abgeschlossen. Im Rahmen dieser Privatplazierung wurden 545.455 Einheiten zum Preis von 55 Cents pro Stück ausgereicht, die insgesamt 300.000,25 $ erbringen.
Diese Einheiten bestehen aus einer Stammaktie und einem Warrant. Sie sichern dem Halter einen Umtausch in eine Stammaktie zu einem Ausübungspreis von 75 Cents im ersten Jahr und 1,00 $ im zweiten Jahr zu.
Alle diese Wertpapiere unterliegen einer Sperrfrist von vier Monaten, die am 17. Juni 2007 ausläuft.
Die zufliessenden Mittel finden als Arbeitskapital Verwendung.
Bisher zahlte Cantech Herrn Lee ein Finder's fee in Höhe von 16.230,61 $.
Für weitere Informationen kontaktieren Sie bitte den Präsidenten und CEO von New Cantech, Herrn Dalton B. DuPasquier, unter der Telefonnummer 001-(604)- 541-7288 oder besuchen Sie die Webseite der Gesellschaft unter http://www.newcantech.com.
und/oder für Angelegenheiten von Aktionären
Herrn John R. Chalcraft, ProActive Communications
#201 - 2383 King George Hwy., White Rock, BC, V4A 5A4
Örtlich: (604) 541-1995; Gebührenfrei: 1 (800) 540-1995
email: johnchalcraft@shaw.ca
Im Auftrage des Boards der Direktoren
"Dalton B. DuPasquier"
NEW CANTECH VENTURES INC.
Zur Beachtung: Die TSX Venture Exchange hat diese Presse-Meldung nicht geprüft und ist auch für deren Inhalt und Genauigkeit in keiner Weise verantwortlich.
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PennyKracher(hoch spekulativer Tipp)-->kann prozentl.zweistellig outperformen,oder uUmständen die Gewinne abgeben:
NewCantech(C7X (WKN: 121407)), Börse:FFE, Kurs:0,63+5%, Tagesumsatz:230.000 -Aktien, TraderStop:0,60 (mit steigenden Kursen nachziehen)
oder sogar die Workshop-Kursrakete, die Sabina Silver (Seminar-Kursrakete vom Januar) performen soll???
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Wertpapier: New Cantech Ventures In |
New Cantech Reports a 40 Metre Intersection Averaging 0.110% Mo (Including 8 Metres of 0.273% Mo) Was Encountered Between 719 to 754 Metres Below Surface in Drill Hole LS06-68 ("The Deep Hole")
Final Results from the Deep Hole-Lucky Ship Molybdenum Property
VANCOUVER, BRITISH COLUMBIA--(March 12, 2007) - New Cantech Ventures Inc. ("Cantech") (TSX VENTURE:NCV)(FRANKFURT:C7X) is pleased to announce that Cantech has received results for the last 500 metres of hole LS06-68, the "deep hole". Mr. Dalton DuPasquier, the President and CEO of New Cantech, commented:
"I am very encouraged by the assay results of the deep hole which establish that molybdenum mineralization extends down to at least 789 metres below surface, a distance of 250 metres below the cutoff elevation for previous resource calculations. I am encouraged that the grades tend not to drop off and, in particular, as set out below, there is an 8 metre intersection of 0.27% Mo which is one of the better intersections drilled on the Lucky Ship Property to date."
Dr. Donald G. MacIntyre\'s description of the drilling results from the "deep hole" is set out below:
This drilling was done between January 14, 2007 and February 9, 2007. The hole was drilled at azimuth 325 degrees and inclination -87 degrees and was designed to target a zone of molybdenum mineralization that was encountered in hole LS06-61 and two previous Amax drill holes - LS65-12 and LS65-16. The hole was collared just north and outside of the molybdenum zone that surrounds a granite porphyry intrusion. The upper part of the hole encountered sporadic intervals of quartz-molybdenite veining to a depth of 517 metres as announced in a previous press release. Results for the last 500 metres of the hole, which were received on March 9, 2007, are presented in the table below. As shown in the table, from 541 to 789 metres hole LS06-68 averaged 0.051% Mo. This zone is interpreted to be continuous with intersections encountered in holes LS06-61, LS65-12 and LS65-16 thus extending the zone of known molybdenum mineralization to a minimum depth of 789 metres below the surface and at least 250 metres below the limit of previous resource calculations on this section. At 789 metres drill hole LS06-68 entered into a quartz monzonite porphyry intrusion that contained only sporadic quartz-molybdenite veining. This intrusion is interpreted to be a coarser grained equivalent of the granite porphyry intrusion that was intersected in drill holes closer to surface. If the two intrusions are related it suggests the granite porphyry is an offshoot of a large intrusive body of quartz monzonite porphyry at depth. The best grades in hole LS06-68 occur in an altered zone that was intersected just before entering the quartz monzonite porphyry. This zone averaged 0.110% MoS2 over 40 metres, including an 8 metre interval that averaged 0.273% Mo. The true thickness of this zone is not known as there is only a single drill hole cutting the zone at this depth. Additional drilling will be required to determine if the zone is steeply dipping and connects to intersections higher up in holes LS06-61, LS65-12 and LS65-16 or if the zone flattens along the upper contact of the quartz monzonite porphyry intrusion.
Hole East- North- Elev. Azi- Length Start End Length (m.) @
Number ing ing (m.) muth Dip (m.) (m.) (m.) Grade %Mo
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LS06-68 599586 5987331 1139 325 -87 1020 541 789 248.0 @ 0.051
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including 661 789 128.0 @ 0.066
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including 719 759 40.0 @ 0.110
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including 739 747 8.0 @ 0.273
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Phase 4 drilling update
The Phase 4 drilling program began on February 23, 2007. Currently Driftwood Diamond Drilling of Smithers, British Columbia has two drills on the property and as of March 9, 2007 had completed 2,968 metres of NQ diamond drilling in 8 drill holes (LS07-69 to LS07-76). This phase of drilling will see 32 drill holes completed as part of a 10,000 metre drilling program. The objectives of this work are to:
(a) Move that part of the Lucky Ship deposit that is within 300 metres of the surface from the current indicated resource to the measured resource category of National Instrument 43-101. This is required for financing purposes; and
(b) Determine the ultimate vertical extent of the deposit which is still open at depth. This information is required to determine the size and grade of the resource that is below the limits of open pit mining and could potentially be mined by underground methods.
Several of the Phase 4 drill holes will be over 700 metres long and will target the area where a high grade intersection was encountered in hole LS06-68 (the "deep hole") as described above. Assay results from the Phase 4 program will be released as they are received.
Qualified Person
Dr. Donald G. MacIntyre, P.Eng., a qualified person under National Instrument 43-101, has been supervising Cantech\'s drilling programs on the Lucky Ship property and has reviewed and approved the technical disclosure in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Dalton DuPasquier
NEW CANTECH VENTURES INC.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.