RESSOURCES MINIÈRES PRO-OR INC.
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MONTREAL, Jan. 23, 2012 /CNW Telbec/ - PRO-OR (TSXV: POI), wishes to announce that the option agreement granted to Everett Resources in August 2010 has come to an end.
This option granted Everett the opportunity to earn a 50% interest in the James Bay Menarik property by investing 5 million dollars ($5,000,000.) in exploration expenditures on the property within three year of the date of the agreement. Everett was also obliged to issue 4.5 million shares to Pro-Or as part of this agreement.
Everett had not completed the required amount of exploration expenditures in accordance with the agreement as of the end 2011. As a result, Pro-Or cancelled the option agreement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defines in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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