Canadian Silver Hunter Inc.: Strategic Investment in Claims Adjacent to Keeley Frontier Project
TORONTO, ONTARIO -- (Marketwire) -- 10/24/12 -- Canadian Silver Hunter Inc. (the "Company") (TSX VENTURE: AGH) is pleased to announce that it has entered into a definitive share purchase agreement to acquire an indirect interest in certain claims adjacent to its flagship Keeley Frontier project by purchasing a one-third interest in Veinlode Silver Mines Limited ("Veinlode"), a private company which owns certain neighbouring claims. The transaction is expected to close on or before November 30, 2012, and is subject to certain conditions including regulatory approval.
Under the terms of the share purchase agreement the Company will acquire, from an arm's length vendor, 13,333 of the 40,000 outstanding common shares of Veinlode, representing a one-third interest. The consideration for this acquisition will consist of:
-- 13,333 common shares of the Company at a deemed price of $0.075 per
share, and
-- a cash payment of $15,000.
Jeffrey Hunter, President and Chief Executive Officer of the Company, commented, "This is an important step in the Company's objective of exploring and expanding the Keeley Frontier project. By acquiring an interest in Veinlode we will be able to gain a greater understanding of the exploration potential around Keeley Frontier."
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian-based junior precious metals exploration company. The Company's flagship project is Keeley Frontier, located near Cobalt, Ontario. The Company's current focus is on exploration of the Keeley Frontier project for silver, cobalt and nickel deposits.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration or project development related to the Company's mineral properties, outcomes of proposed or contemplated acquisitions or other transactions, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward- looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Contacts:
Canadian Silver Hunter Inc.
Jeffrey Hunter
President and CEO
(416) 707-4230
jhunter@cshi.ca
www.canadiansilverhunter.ca
