Post by Franko10 ™ on Jan 10, 2005 21:34:02 GMT -5
Anglo Minerals Ltd. June 15, 2004 Calgary, Alberta For Immediate Release Anglo Grants Option to Synenco Calgary - Anglo Minerals Ltd. (TSXV - ALM) is pleased to announce that it has granted an option (the "Option") to Synenco Energy Inc. pursuant to which Synenco is entitled to purchase all of Anglo's rights in and to two oilsands permits and four coal lease applications. Upon exercise of the entire Option, Synenco will hold 100% interest in the Northern Lights Project, an oil sands development project it is undertaking in the Fort McMurray area of Alberta, and Anglo will receive an aggregate of $5 million. The transaction described herein is conditional upon, among other things, regulatory and shareholder approval. The Option is exercisable by Synenco in 5 separate tranches of payments to be made on or before November 15, 2005 as follows: $1,000,000 On or before November 15, 2004 $1,000,000 February 15, 2005 $1,000,000 May 15, 2005 $1,000,000 August 15, 2005 $1,000,000 November 15, 2005 For further information please contact Mr. Todd Montgomery, President of Anglo Minerals Ltd., at (403) 510-5565. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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