|By Marketwired .||
|August 26, 2014 06:51 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/26/14 -- AsiaBaseMetals Inc. ("AsiaBaseMetals" or the "Company") (TSX VENTURE:ABZ) is pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Jean Iron Ore Project from Great Lakes Resources Ltd. ("Great Lakes"). The transaction is subject to TSX Venture Exchange approval.
The Jean Property (the "Project") is an iron ore exploration property located in the Thunder Bay Mining District of Northwestern Ontario, Canada. The Project is comprised of 17 claims totaling 1,824 hectares and is located approximately 65 kilometres to the southwest of Thunder Bay, approximately 2 kilometres north of the Whitefish Lake on Highway 588.
Jean Property Option Terms
AsiaBaseMetals may earn a 100% interest in the Project by:
a. issuing to Great Lakes a total of 1,600,000 common shares of AsiaBaseMetals as follows: i. 50,000 shares within two business days of TSX Venture Exchange acceptance; ii. 50,000 shares on or before November 30, 2015; iii.500,000 shares on or before the later of: (A) the date of completion of a second NI 43-101 compliant technical report on the Project addressed to AsiaBaseMetals (the "Technical Report Date"), and (B) March 31, 2017; iv. 500,000 shares on or before the commencement of a drilling program of over $100,000 on the Project (the "Drilling Date"); and v. 500,000 shares on or before the date of completion of a NI 43-101 compliant technical report on the Project containing a resource estimate of over 100,000,000 (one hundred million) tonnes (the "Resource Estimate Date"); b. making cash payments to Great Lakes totalling $300,000 as follows: i. $100,000 on or before the later of: (A) th e Technical Report Date; and (B) March 31, 2017; ii. $100,000 on or before the Drilling Date; and iii.$100,000 on or before the Resource Estimate Date; c. incurring at least $160,000 in Expenditures on the Project as follows: i. $10,000 on or before March 31, 2015; ii. $50,000 on or before September 30, 2015; and iii.$100,000 on or before September 30, 2016;
Any Expenditures incurred in excess of the requirements for any period set out above will be credited against the requirements of the next succeeding period and any shortfall in such Expenditures can be made up with a cash payment in lieu of work.
Great Lakes will retain a 2% net smelter returns royalty from commercial production of mineral products from the Project. AsiaBaseMetals will be entitled to purchase 1/2 of the royalty (1%) for $2,000,000.
ABOUT ASIABASEMETALS INC.
AsiaBaseMetals Inc. is a growth company focused on the exploration and development of zinc and base metals. The Company has a project in British Columbia, Canada - the 5,429 hectare Gnome zinc project. AsiaBaseMetals is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development.
For more information please visit www.asiabasemetals.com.
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.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the optioning of the Project by the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that TSX Venture Exchange acceptance of the option agreement will not be obtained, regulatory changes, fundraising, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management, including that Exchange acceptance for the proposed transaction will be obtained, conditions will be satisfied, required fundraising will be completed and the other risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 29, 2017 02:30 AM EDT Reads: 9,336
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 29, 2017 01:45 AM EDT Reads: 1,548
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 29, 2017 01:45 AM EDT Reads: 1,272
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 29, 2017 01:15 AM EDT Reads: 902
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. 29, 2017 12:30 AM EDT Reads: 931
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. 29, 2017 12:00 AM EDT Reads: 973
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 29, 2017 12:00 AM EDT Reads: 1,042
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 28, 2017 11:45 PM EDT Reads: 2,369
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. 28, 2017 11:30 PM EDT Reads: 2,747
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. 28, 2017 10:45 PM EDT Reads: 1,448
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. 28, 2017 10:45 PM EDT Reads: 1,940
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. 28, 2017 10:30 PM EDT Reads: 1,619
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 28, 2017 10:30 PM EDT Reads: 2,497
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. 28, 2017 10:30 PM EDT Reads: 3,321
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 28, 2017 10:15 PM EDT Reads: 2,525