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Post by Franko10 ™ on Sept 11, 2004 8:13:55 GMT -5
U.S. Canadian Minerals Inc. Exercises Additional Purchase of CMKM Diamonds Inc.'s Mineral Claims for $2,500,000 USD
LAS VEGAS, Sep 9, 2004 (BUSINESS WIRE) -- U.S. Canadian Minerals Inc. (OTCBB: UCAD) announced today that it has exercised a portion of its option with CMKM Diamonds Inc. (Pink Sheets: CMKX) to purchase an additional 1.66% interest in all of CMKX's mineral claims for $2,500,000 USD. Under the agreement reached in July, UCAD has a one-year option agreement to purchase up to an aggregate total of 10% interest in all of the mineral claims held by CMKX for a total of $15 million USD payable to CMKM Diamonds Inc. With the exercise of this portion of the option and previous option exercises and transactions with CMKX, UCAD currently holds 9.16% of all of CMKX's mineral claims. Should UCAD exercise its remaining portion of its option, the company will hold 15% of all of the CMKX mineral claims.
Rendal Williams, CEO of UCAD, stated, "The company expects to exercise additional percentages under the option as we move forward, increasing our holdings and asset base with the acquisition of potentially high revenue properties."
Further details relative to this project will be forthcoming in future press releases and at www.uscanadian.net/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
SOURCE: U.S. Canadian Minerals Inc.
CONTACT: U.S. Canadian Minerals Inc.
Chris Hanneman, 303-220-8476
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-0-
KEYWORD: NEVADA
INDUSTRY KEYWORD: MINING/METALS
ENVIRONMENT
MARKETING
AGREEMENTS
LAS VEGAS, Sep 9, 2004 (BUSINESS WIRE) -- U.S. Canadian Minerals Inc. (OTCBB: UCAD) announced today that it has exercised a portion of its option with CMKM Diamonds Inc. (Pink Sheets: CMKX) to purchase an additional 1.66% interest in all of CMKX's mineral claims for $2,500,000 USD. Under the agreement reached in July, UCAD has a one-year option agreement to purchase up to an aggregate total of 10% interest in all of the mineral claims held by CMKX for a total of $15 million USD payable to CMKM Diamonds Inc. With the exercise of this portion of the option and previous option exercises and transactions with CMKX, UCAD currently holds 9.16% of all of CMKX's mineral claims. Should UCAD exercise its remaining portion of its option, the company will hold 15% of all of the CMKX mineral claims.
Rendal Williams, CEO of UCAD, stated, "The company expects to exercise additional percentages under the option as we move forward, increasing our holdings and asset base with the acquisition of potentially high revenue properties."
Further details relative to this project will be forthcoming in future press releases and at www.uscanadian.net/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
SOURCE: U.S. Canadian Minerals Inc.
CONTACT: U.S. Canadian Minerals Inc.
Chris Hanneman, 303-220-8476
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
-0-
KEYWORD: NEVADA
INDUSTRY KEYWORD: MINING/METALS
ENVIRONMENT
MARKETING
AGREEMENTS
