Bearclaw Capital Corp.

Bearclaw Capital Corp.

August 18, 2008 14:59 ET

Bearclaw Announces Man/Prime Sale

VANCOUVER, BRITISH COLOMBIA--(Marketwire - Aug. 18, 2008) - Bearclaw Capital Corp. (TSX VENTURE:BRL)(FRANKFURT:5BQ) is pleased to announce that it has entered into an agreement to sell its remaining 49% interest in its Man/Prime mineral property interests, located 35 km north of Princeton, B.C., to Candorado Operating Company Ltd. (TSX VENTURE:CDO). Bearclaw sold the other 51% interest in the property interests to Candorado in 2007.

Candorado has agreed to pay Bearclaw a total of $300,000, and to issue a total of 450,000 shares to Bearclaw for the mineral property interests - the first $100,000 is due on execution of the agreement, and the first 150,000 shares are due upon acceptance of the proposed transaction by the TSX Venture Exchange. Candorado is required to make an additional $100,000 payment and to issue an additional 150,000 shares on December 31, 2008, and on July 31, 2009. Candorado also granted a 1.25% net smelter returns royalty to Bearclaw as part of the purchase price.

The completion of the proposed transaction is subject to acceptance by the TSX Venture Exchange.

This news release may contain forward-looking statements. Known and unknown risks and uncertainties may cause actual events or results to materially differ from those expressed or implied by any such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bearclaw Capital Corp.
    Christian de Saint-Rome