Cumbre Ventures Inc.

September 05, 2007 21:31 ET

Cumbre Ventures Inc.-Loan to Atlas Minerals Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Cumbre Ventures Inc. (TSX VENTURE:CUB.P) ("Cumbre" or the "Corporation") wishes to announce that it is proceeding with the the proposed transaction with Atlas Minerals Inc. (the "Target Company") on substantially the terms set forth in its news release of May 2, 2007. Cumbre now intends to advance an aggregate of $225,000 to the Target Company in accordance with Section 8.5 of Policy 2.4 (the "Policy") of the TSX Venture Exchange (the "Exchange"). The said $225,000 will be comprised of a $25,000 non-refundable deposit (the "Deposit") and a $200,000 secured loan (the "Loan"). The Loan will bear interest at 6% and will be secured by a charge over (all of the present and after acquired real and personal property of the Target Company). The proceeds of the Deposit and the Loan will be used by the Target Company to fund its ongoing operations pending completion of the proposed Qualifying Transaction. The Deposit and Loan will not be advanced until (i) at least 15 days from the dissemination of this news release; and (ii) the Corporation has received confirmation of Exchange acceptance for the Deposit and Loan.

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

Contact Information

  • Cumbre Ventures Inc.
    Marc Cernovitch
    President, CEO and CFO
    (604) 685-9316
    (604) 683-1585 (FAX)
    Atlas Minerals Inc.
    Barry Herring
    (403) 630-0881
    (403) 262-4860 (FAX)