Kaskattama Inc.

Kaskattama Inc.

November 12, 2010 16:07 ET

Kaskattama Terminates Merger Negotiations with First Metals Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2010) - Kaskattama Inc. ("Kaskattama", or the "Company") is announcing the termination of its merger negotiations with First Metals Inc., as per the April 8, 2010 press release. 

Kaskattama is a private company that has entered into an agreement to acquire the Shoal Lake properties of Everton Resources (see press release of September 27, 2010). When the acquisition is completed, the company expects to have two known Shoal Lake gold deposits, Duport and Cedar Island, near Kenora Ontario. Both projects are brownfields assets with mineral inventories and substantial exploration upside, as described on the Company's web site.

In addition, the Company is in ongoing negotiations to acquire mineral properties in the Fort Hope area, and the Ring of Fire, in northwest Ontario. Kaskattama has a unique business model in which it will actively seek First Nation participation in select projects and offer equity participation of up to 50% with its First Nations partners, where appropriate.

Forward-looking Statements

Some of the statements contained in this release are forward-looking statements, such as the anticipated use of proceeds and closing of the offering 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. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of the Company's business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Kaskattama Inc. does not intend to update any forward-looking statements to conform these statements to actual results.

About the Company

Kaskattama is a Canadian controlled private corporation based in Toronto, Ontario. It was incorporated under the Business Corporation Act (Ontario) on July 11, 2007. Kaskattama has a mining business development plan targeting undeveloped assets for near term resource development. It has a Canadian focus with preference given to partnerships with First Nations.

Contact Information

  • Kaskattama Inc.
    David Goldsmith
    President Designate
    647-985-6230