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Cap-Ex Closes Schefferville DSO Claims
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) - Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:X0V) ("Cap-Ex" or the "Company") is pleased to announce that it has closed its acquisition of Newfoundland / Labrador Mineral Licence Number 017130M (the "Elross Claims"). The Elross Claims were acquired from Darrin Hicks ("Hicks") pursuant to an agreement (the "Hicks Agreement") dated the 4th day of April, 2011. The Hicks Agreement was first announced in the Company's news release dated April 7, 2011. Consideration for the acquisition of the Elross Claims was a cash payment of $20,000 and issuance of 100,000 common shares (the "Shares"), subject to escrow terms equivalent to those for Tier II Value Escrow Shares. The Company has granted to Hicks a 2% royalty on commercial production from the Elross Claims. In addition to the escrow terms described above, the Shares are subject to TSX Venture Exchange hold period expiring on August 19, 2011.
View More : http://www.marketwire.com/mw/release.do?id=1507338&sourceType=3
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