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https://www.thenewswire.com/archives?id=AG9FYm7o Montreal, Quebec / TheNewswire / November 13, 2017 - St-Georges Platinum & Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) would like to provide a corporate update to its shareholders and stakeholders and also comment on the status of the warrants of which the expiry date is being accelerated to December 1st. Share issuance The Company's total outstanding common share amount has been increased by 4,921,370 due to the transactions below: 1.Issuance of 2,000,000 shares to the original vendors of LeRoyal Lithium project; 2.Issuance of 1,800,000 for a proceed of $72,000 for warrants executed; 3.Issuance of 621,370 for the conversion of debentures in common shares; 4.Issuance of 500,000 in favor of Quantum Numbers Corp (TSX-V: QNC) for Saguenay projects acquisition; Le Royal Lithium Project The project is now owned 90% by St-Georges and 10% by Lepidico (ASX: LPD). All shares and cash payments have been done. The Company now has work commitments and obligations of $450,000 over the next 2 years. Some of the work that was initiated last year will be restarted this month or in early spring. Iceland Resources The Company is actively working on the permitting process for exploration drilling in Iceland on its priority targets. The Company received questions regarding the recent elections in the Icelandic Parliament from some of its shareholders. This answer is provided by Kristin Olafsdottir, CEO of St-Georges' subsidiary Iceland Resources: "(...) the recent elections have no impact for the Company. Iceland has a stable political system and a professional public administration with transparent and open processes. We are making progress in regard to our licensing efforts and matters are moving though the correct channels with in the appropriate governmental bodies, nothing indicates that this will change for the foreseeable future." Saguenay Projects On November 10, the Company has agreed to acquire all the remaining ownership of Quantum Numbers Corporation ("QNC"), also formerly known has Active Knowledge or ("ACK") in a series of projects referred to as the Saguenay Projects. St-Georges agreed to pay $5,000 in cash, assumed all undergoing exploration work invoices, will establish a 1.5% NSR on these claims in favor of QNC (of which 1% can be bought back for $1.5 million) and issue 500,000 common shares of St-Georges to QNC. These projects are important to St-Georges alternative lithium technology initiative. Core claims owned privately by St-Georges management might be acquired by the Company after a review by an internal committee that will exclude Mr. Dumas and Mr. Billings who currently co-own the 8 historical mines that QNC & St-Georges claims surrounds. Clay Lithium Extraction The Company is currently advancing its lithium clay research initiative in collaboration with Iconic Minerals (TSX-V: ICM) with the goal of publishing early results before the end of November. Additional discoveries have added to the workload of the company metallurgists. St-Georges should choose the independent company that it will subcontract the execution of some of the verification work in the coming days. Iconic and St-Georges are currently finalizing the long form agreement that they should execute within the next 10 working days. ON BEHALF OF THE BOARD OF DIRECTORS "Frank Dumas" FRANK DUMAS, PRESIDENT & CEO |
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| aus der Diskussion: | St-Georges Eco-Mining |
| Autor (Datum des Eintrages): | phobieeee (16.11.17 16:09:05) |
| Beitrag: | 9 von 3,409 (ID:56200131) |
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