THUNDER BAY, ON, Jan. 6, 2014 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") is pleased to announce the closing of the acquisition of mining claims in the Bathurst Mining Camp and surrounding area in north-eastern New Brunswick (the "Property"), as previously announced on November 20, 2013 and detailed in the December 9, 2013 Press Release (right click on Press Release to open hyperlink).
Wolfden acquired the Property from 8100896 Canada Inc., a wholly-owned subsidiary of GeoVenCap Inc. (the "Vendor"). Pursuant to the terms of a definitive purchase agreement, Wolfden purchased all of the Vendor's right, title and interest to and in the Property for cash consideration of $125,000 and 571,428 common shares of Wolfden (the "Consideration Shares") having a deemed value of $100,000. The Consideration Shares are subject to a four-month hold period under applicable securities laws in Canada.
The transaction has been approved by the TSX Venture Exchange.
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to the acquisition of the Property. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties;(i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (iv) stock market volatility and capital market fluctuations; and (v) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are based on estimates and opinions of management on the date hereof and are expressly qualified by this notice.
Neither the TSX Venture Exchange nor its regulation services provides (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the accuracy or adequacy of this release.
SOURCE: Wolfden Resources Corporation
For further information:
Chief Executive Officer
Wolfden Resources Corporation
Tel: (416) 268-1043
Email: [email protected]