Post by diamondjewels on Sept 25, 2006 6:45:19 GMT -6
Attention Business Editors:
Shore acquiring De Beers' interest in the FALC Joint Venture
Stock Symbol SGF: TSX
SASKATOON, SK, Sept. 25 /CNW/ - Kenneth E. MacNeill, President and CEO of
Shore Gold Inc. ("Shore") is pleased to announce that Shore has entered into
an agreement with De Beers Canada Inc. ("De Beers") whereby Kensington
Resources Ltd. ("Kensington"), Shore's wholly-owned subsidiary, will acquire
De Beers' 42.245% participating interest in the Fort a la Corne Joint Venture
("FALC JV") for a cash price of $180 million. The transaction documentation
has been delivered in escrow pending registration of mineral disposition
transfers comprising the FALC JV lands, following which the escrow will be
automatically released and the transaction completed and closed. On completion
and closing of the acquisition, Kensington will become the operator of the
FALC JV.
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of Shore trade on
the TSX Exchange under the trading symbol "SGF".
For further information: Kenneth E. MacNeill, President and CEO or
Harvey J. Bay, COO & CFO at (306) 664-2202
www.newswire.ca/en/releases/archive/September2006/25/c9424.html
Shore acquiring De Beers' interest in the FALC Joint Venture
Stock Symbol SGF: TSX
SASKATOON, SK, Sept. 25 /CNW/ - Kenneth E. MacNeill, President and CEO of
Shore Gold Inc. ("Shore") is pleased to announce that Shore has entered into
an agreement with De Beers Canada Inc. ("De Beers") whereby Kensington
Resources Ltd. ("Kensington"), Shore's wholly-owned subsidiary, will acquire
De Beers' 42.245% participating interest in the Fort a la Corne Joint Venture
("FALC JV") for a cash price of $180 million. The transaction documentation
has been delivered in escrow pending registration of mineral disposition
transfers comprising the FALC JV lands, following which the escrow will be
automatically released and the transaction completed and closed. On completion
and closing of the acquisition, Kensington will become the operator of the
FALC JV.
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of Shore trade on
the TSX Exchange under the trading symbol "SGF".
For further information: Kenneth E. MacNeill, President and CEO or
Harvey J. Bay, COO & CFO at (306) 664-2202
www.newswire.ca/en/releases/archive/September2006/25/c9424.html
