MONTREAL, QUEBEC--(Marketwired - Nov. 27, 2013) - Synergy Acquisition Corp. (the "Company") (CNSX:QMP) is pleased to announce the signing of a property sales agreement with Mazorro Resources ("Mazorro") for the Monster Lake Area Property (the "Property"). The property is located in north-western Quebec, 44 km southwest of Chibougamau and consists of two blocks totaling 81 mining claims covering 4,300 hectares.
Under the sales agreement, Mazorro may acquire up to 100% of the rights and interests of the Company's Monster Lake area property by making cash payments totaling $ 50,000, and by issuing 4,000,000 common shares of Mazorro to the Company and 1,000,000 warrants, each warrant to purchase one (1) common share of Mazorro for a period of two (2) years from the closing date at a price of $ 0.10 per share. In addition, Mazorro grants to the Company a royalty of 2.0% (NSR). Mazorro has the option to purchase 1% of the NSR for a cash consideration of $ 250,000 payable to Synergy.
Terms of the sale agreement
Under the agreement to acquire a 100% interest in the Property, Mazorro must make cash payments and issue shares as follows:
| Period | Payment ($) | Shares | Warrants |
| At signature | 25 000$ | 1 500 000 | 1 000 000 |
| Following delivery of 43-101 report | 25 000$ | 1 500 000 | |
| 12 months following signing of agreement | 1 000 000 | ||
| TOTAL | 50 000$ | 4 000 000 | 1 000 000 |
About Synergy
Synergy targets the excellent mineral potential of Quebec to make discoveries of new world-class deposits. Synergy is the ideal partner for exploration companies as well as for capital pool companies looking for qualified transaction projects of merit. Synergy intends to enter into other agreements with respect to its properties. Management is currently evaluating other growth opportunities among its portfolio of mineral properties newly acquired to enhance shareholders' value in the short term.
This press release contains certain forward-looking statements that involve a number of risks and uncertainties, and there can be no assurance that such statements will prove accurate. As a result, actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties are described in the annual report and in the filings made by the Company with securities regulatory authorities.
Neither the CNSX Exchange nor its Regulation Services Provider accepts responsibility whatsoever for the adequacy or accuracy of this release.
Contact Information:
President and CEO
(418) 717-2553
slconcept@hotmail.com