TORONTO, Sept. 25 /CNW/ - Bandolac Mining Company, Limited (the
"Company") is pleased to announce the acquisition of 22 mining claims located
in the Township of Cadillac, County of Abitibi, in the Province of Quebec,
pursuant to a Purchase Agreement dated August 29, 2008 between the Company and
Mr. Mitchell E. Lavery of Val-d'Or, Quebec.
In consideration for the claims, the Company issued 1,000,000 common
shares, having a deemed value of $0.10/share. As a result of the issuance of
the shares, Mr. Lavery owns approximately 25.4% of the 3,941,372 issued and
outstanding shares of the Company and he is considered to be a control person
as defined by the Securities Act of Ontario.
The shares were issued pursuant to the petroleum, natural gas and mining
properties exemption from the prospectus and registration requirements
available under National Instrument 45-106 and will be subject to a four month
and one day restricted period on resale.
Bandolac Mining Company, Limited, is a junior mining exploration and
development company, that is seeking out strategic opportunities to become a
producer of precious and base metals through the exploration, development and
operation of commercially viable properties.
For further information:
For further information: George W. Rayfield, Treasurer, Telephone: (905)