Vena Resources Inc.
Exploration and development of Peru’s mineral potential
AGORACOM NEWS FLASH
Dear Agoracom Family,
I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.
As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.
To this end:
1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.
2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.
Sincerely,
George et al
Message: Vena Finalizes Acquisition Terms for Bongara Zinc Mine in Peru
October 5, 2016
TORONTO , Oct. 5, 2016 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (VEM-H.V) is pleased to announce that further to its press release of July 19, 2016 , the Company has signed definitive agreements to acquire the Bongará Zinc Mine ("BZM") and the Charlotte Bongará Zinc ("CBZ") projects located in north-central Peru.
The BZM acquisition terms are US$835,000 in cash or shares over three years, of which US$65,000 has been paid in cash and Vena has agreed to issue 346,815 common shares, and US$595,000 in cash or shares over three years for CBZ, of which US$10,000 has been paid in cash and Vena has agreed to issue 229,250 common shares. Both properties are subject to modest advance royalties one year after the projects are acquired and a 2% NSR on production.
A National Instrument 43-101 report, which will summarize the activities on the BZM and CBZ projects over the past three decades, will be filed imminently.
The acquisition and the issuance of shares are subject to regulatory approval and the securities to be issued will be subject to a four month hold period.
Neither the NEX nor its Regulation Services Provider (as that term is defined in policies of the TMX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Vena Resources Inc.
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