ClearFrame Solutions Corp.
TSX VENTURE : CFA.H

July 03, 2012 09:01 ET

ClearFrame Announces Property Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2012) - ClearFrame Solutions Corp. (TSX VENTURE:CFA.H)(the "Company") is pleased to announce that it has entered into property option agreements with Brian Fowler of Pinawa, Manitoba, and a group of other vendors, with respect to a package of three claims groups, the Big Duck Lake, the Aguasabon Lake and the Aguasabon River claims, comprising a total of 53 claims covering 658 units situated in the Thunder Bay Mining Division of Ontario.

With respect to the Big Duck Lake claims, the Company must pay $113,400 in cash over two years and issue 108,000 shares in the capital of the Company to the vendors; for the Aguasabon Lake claims, the Company must pay $36,400 in cash over two years and issue 34,668 shares in its capital; and for the Aguasabon River claims, the Company must pay $280,000 in cash over three years, issue a total of 800,000 shares in its capital and complete $100,000 in work during the first year of the option. Each of the claims packages is subject to a 2% NSR royalty retained by the vendors of which the Company can by down 1% through payment of $1,000,000 with respect to each claim group to the vendors.

The acquisition of the claims is subject to acceptance for filing by the TSX Venture Exchange.

CLEARFRAME SOLUTIONS CORP.

JEREMY FORD, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

Contact Information

  • ClearFrame Solutions Corp.
    Jeremy Ford
    President and CEO
    (604) 644-4488