Orebodies Commences Work on Lithium/Ree Properties
|
| Posted
:
Mon, 09 Nov 2009 19:00:36 GMT |
| Author
:
Canadian Orebodies Inc. |
| Category
:
Press Release |
| News Alerts by
Email ( click
here ) |
|
|
|
|
TORONTO, ONTARIO -- 11/09/09 --
Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it has commenced work on four of its newly acquired Lithium/REE properties (the "Properties"). Orebodies has mobilized two crews to begin work on four of the five Properties in which it recently signed an LOI to acquire 100% legal and beneficial interest (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000) on October 22, 2009.
One crew has been mobilized to cover the Falcon and Despard Properties and a second to work the Vegan and Niemi South Properties. The work will consist of detailed geological mapping and sampling across the claims to qualify historic results and obtain sufficient information to conduct further work programs during the winter months.
In order to complete the purchase of 100% interest in the Properties (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000), Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing. More information regarding the Properties can be found in Orebodies Press Release dated October 22, 2009.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involve known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
|

Copyright © 2008
Market Wire. All
rights reserved.
|
|
|
|
|
Related
News
Get Moving Catalog Launches DiabetesMiami.Com, A Fundraising Initiative with the American Diabetes Association of Southeast Florida. (EMAILWIRE.COM, November 22, 2009 ) Miami, Florida - As charities and non-profits struggle in difficult economic times, many are seeking new approaches to improve their fundraising efforts. In that vein, the American Diabetes Association of Southeas..
StockSource.us Reports Green Energy Stock to Explode (EMAILWIRE.COM, November 22, 2009 ) Del Mar, CA – The Environmental Protection Agency reports one of the biggest challenges facing livestock producers is managing manure and process water in a way that protects environmental quality and controls odo..
LiquidStockReport.com - Green Energy Live provides Engineering Assistance. (EMAILWIRE.COM, November 22, 2009 ) Del Mar, CA - Being a leader in the biomass-to-ethanol industry and a provider of complete equipment packages for biomass energy systems, Green Energy Live provides engineering assistance, assists customers in appl..
GOOD MORNING -- November 22, 2009
This is PR NEWSWIRE -- transmitting news releases, advisories and
other information to the news media around the United States since
1954.
If you have questions regarding your PRN teleprinter, your PRN computer
service, or if you wish to arrange to receive P...
iRateMyDate iPhone App Launches in the iTunes store
November 23rd marks the release of a new iPhone dating app for single men and women. iRateMyDate is designed to help singles Manage, Rate and Compare their dates. Single men and women have been known to have a mental checklist of qualities they are looking for in a date or mate and the iRateM...
ArchAngel Partners Announces the Opening of Sister Company Poway Weapons & Gear
SAN DIEGO, Nov. 22 /PRNewswire/ -- ArchAngel Partners Inc., a prominent executive protection and security consultation firm, serving elite celebrity clients and business professionals nationwide, announces the opening of its sister company Poway Weapons & Gear.
...
The Walt Disney Company China Announces Local Adaptation 'Disney High School Musical: China'
BURBANK, Calif. and SHANGHAI, Nov. 22 -- The Walt Disney Company in China today announced the start of production on its third local co-production project in just two years, "Disney High School Musical: China." Working with local partners Sha...
|
|
|
|
|
|
|
|
|