|By Marketwired .||
|June 19, 2014 02:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/19/14 -- Quia Resources Inc. ("Quia" or the "Company") (TSX VENTURE:QIA) announces that it has entered into an agreement with Enneract Corporation ("Enneract"), a private Panamanian company, to sell its subsidiary, San Lucas Gold Corp, which holds the San Lucas gold property in Colombia, subject to approval of the TSX Venture Exchange. The transaction is an arm's-length transaction and no finder's fee is payable in connection with the agreement. A former director of Quia has an interest in Enneract.
Under the terms of the agreement, Quia will receive a number of common shares resulting in an equity ownership of 5% of Enneract, as well as a 2% net smelter return royalty (the "Royalty"), of which Enneract can buy back half for US $500,000. In addition, Quia has a right to participate in financings of Enneract to maintain its pro-rata position and a right of first refusal with respect to the sale or joint-venture of the property. The sale will result in a reduction in the Company's liabilities as of March 31, 2014 by $397,778.87. The purchaser of the subsidiary is acquiring the subsidiary including its liabilities, and therefore those liabilities will no longer be the obligation of Quia and will no longer be part of the Company's consolidated financial statements.
Mr. Banks, Quia's CEO, commented: "Conditions in Colombia and in the financial markets have made it challenging to continue to advance the San Lucas project. The sale significantly improves our balance sheet, allows us to further streamline our operation, and enables us to focus on our agromineral strategy which is rapidly developing. We also maintain exposure to the upside potential of San Lucas through our equity ownership in Enneract, the Royalty and our other rights."
The Company has received all required approvals for the closing of the first tranche of its secured convertible debenture financing as described in its press release dated June 4, 2014, and the closing of the first tranche in the amount of $340,286.30 has been completed.
Investor Relations Agreement
The Company has engaged Investor Cubed to provide the following services:
(a) manage communications with investors, brokers and other investment professionals; (b) organize and attend meetings with investment dealers and investment advisors to present the Company and help to develop relationships on the Company's behalf; (c) contact investment advisors by telephone to generate awareness; (d) distribute the Company's news releases to its database; (e) make recommendations about the strategy, content and design of the Company's investor presentation materials; (f) make recommendations about the content, design and functionality of the investor relations segment of the Company's website; (g) assist with financing opportunities; and (h) provide general consulting on investor communications and capital markets.
The term of the agreement will be for a period of 12 months commencing June 17, 2014 (the "Commencement Date") and expiring on June 16, 2015, subject to the right of the Company to terminate the agreement on 30 days notice after December 16, 2014. The Company will pay a fee of $5,000 per month and issue 150,000 stock options to Investor Cubed. Each option will be exercisable to purchase one common share of the Company. Subject to the options being issued under the terms and conditions of the Company's stock option plan, the options will be issued quarterly in four tranches of 37,500 each with the first tranche being issued as of the Commencement Date, and with the exercise price per share for the options being set at $0.10. This agreement is subject to the approval of the TSX Venture Exchange.
About Quia Resources Inc.
Quia Resources is a mineral exploration and development company that is focused on agrominerals, including the Murdock Mountain direct application phosphate project in Nevada. The Company is also actively evaluating additional business opportunities in the agricultural sector.
This press release contains or refers to forward-looking information based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
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.
Quia Resources Inc.
Chief Executive Officer
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 25, 2017 10:15 PM EDT Reads: 1,265
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 25, 2017 10:15 PM EDT Reads: 1,151
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 25, 2017 10:00 PM EDT Reads: 3,683
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 25, 2017 09:45 PM EDT Reads: 1,240
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 25, 2017 08:30 PM EDT Reads: 2,487
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 25, 2017 08:15 PM EDT Reads: 486
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 25, 2017 07:45 PM EDT Reads: 1,750
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 25, 2017 07:15 PM EDT Reads: 3,096
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Apr. 25, 2017 06:15 PM EDT Reads: 2,186
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
Apr. 25, 2017 06:15 PM EDT Reads: 1,154
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
Apr. 25, 2017 06:15 PM EDT Reads: 332
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 25, 2017 06:15 PM EDT Reads: 958
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Apr. 25, 2017 05:45 PM EDT Reads: 2,107
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Apr. 25, 2017 05:45 PM EDT Reads: 3,707
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 25, 2017 05:45 PM EDT Reads: 1,010