Business News • MarketWire • Kenna Announces Conditional Acceptance of Qualifying Transaction, Filing of Technical Report and Filing Statement |
Kenna Announces Conditional Acceptance of Qualifying Transaction, Filing of Technical Report and Filing Statement |
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Kenna Announces Conditional Acceptance of Qualifying Transaction, Filing of Technical Report and Filing Statement
SASKATOON, SASKATCHEWAN--(Marketwire - March 13, 2012) - KENNA CAPITAL CORP. (TSX VENTURE:MMG.P) (the "Corporation" or "Kenna"), a capital pool company, is pleased to announce that the TSX Venture Exchange (the "Exchange") has granted conditional acceptance in respect of its proposed qualifying transaction, consisting of the acquisition of all rights, title and interests held by BEC International Corp. in copper, silver and gold prospects at Elizabeth Lake, Saskatchewan (the "Qualifying Transaction"), as previously announced by the Corporation via press release on February 9, 2012. The Corporation has also received an independent technical report dated February 10, 2012 prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and entitled, "Report on the Elizabeth Lake Property (in compliance with NI 43-101(F1)), Claims S-107490, S-107491, S-110862 and S-111056, centered at: 105° 22'35"W, 55° 19'30"N (476,000 E; 6,131,000 N, NAD 83, Zone 13) Nemeiben Lake Area, Northern Mining District, Saskatchewan (NTS 72P06SW) for Kenna Capital Corp." (the "Technical Report"). The Technical Report recommends a staged exploration program to evaluate the copper-silver-gold potential of the Elizabeth Lake Property. A first phase program consisting of initial drill testing of known geophysical targets is proposed at an estimated cost of $362,000. The Technical Report was prepared by Amerlin Exploration Services Ltd. of Richmond, British Columbia ("Amerlin"). The author of the report is Carl G. Verley, P.Geo., who is a "qualified person" within the meaning of NI 43-101 and is independent of the Corporation. The Technical Report has been filed with the Exchange and with the securities commissions of each of the Provinces of British Columia, Alberta, Saskatchewan, Manitoba and Ontario and is available under the Corporation's pro
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