Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

October 23, 2014 07:30 ET

Cogitore Resources Sells Estrades Claims

TORONTO, ONTARIO--(Marketwired - Oct. 23, 2014) - Cogitore Resources Inc. ("Cogitore") (TSX VENTURE:WOO) is pleased to announce that it has concluded an agreement with Continental Mining and Smelting Inc. ("Continental") to sell 86 claims covering 4,175 hectares in the Estrades mining camp located in in Abitibi greenstone belt approximately 45 km west of the Joutel central volcanic complex and 25 km east of the Casa Berardi gold mine. Total consideration received by Cogitore will be two million shares of Continental representing approximately 4.8% of the issued and outstanding shares and $300,000 in cash payable in four installments up to June 30, 2015. After the completion of this transaction, Cogitore will own five million share or approximately 12.2% of the issued and outstanding shares of Continental. Cogitore excluded these claims in the recently announced transaction with Yorbeau Resources Inc ("Yorbeau").

About Cogitore

After completion of the previously announced Yorbeau sale transaction, and subject to all necessary approvals, Cogitore will continue as listed issuer with a mandate to seek new opportunities to maximize shareholder value.

About Continental

Continental is a private Canadian company with an option to acquire the Estrades Mine, located approximately 125 kilometres north of Val D'Or, Quebec. The Estrades Mine contains a gold, silver, zinc-rich VMS (volcanogenic massive sulphide) deposit with associated copper and lead ore. Continental plans to rehabilitate the existing ramp, which goes down to the 200 m level and re-permit the Estrades Mine.

Caution Regarding Forward-Looking Information

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, the ability of the Company to complete the sale of assets to Yorbeau Resources Inc. and realize value from the shares issued pursuant to this transaction, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: due diligence, definitive documentation, regulatory and shareholder approvals regarding the sale of assets to Yorbeau Resources Inc.; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cogitore Resources Inc.
    Mr. Brian Howlett
    President & CEO
    Office: 416-849-7773
    Cell: 647-227-3035
    www.cogitore.com/