MONTREAL, QUEBEC--(Marketwire - Mar 7, 2013) - The management of Affinor Resources Inc. ("Affinor" or "Company") (CNSX:AFI) announces the acquisition of the La Reine and Destor Extension Properties.
The La Reine property contains 2 mining claims and covers an area of 85 hectares. It is located 17 km from the former Normetal mine. According to the terms of the transaction, Affinor acquires 100 % of the 2 claims in exchange of the issuance of 750,000 common shares of the Company. The seller will retain a 2 % NSR.
The Destor Extension property contains 4 mining claims and covers 200 hectares. It is located 9 km from the Yuan Vezina mine and 5 km from the Duquesne gold mine. According to terms of the transaction, Affinor acquires 100 % of the 4 claims in exchange of the issuance of 925,000 common shares of the Company. The seller will retain a 2% NSR.
The Company also announces that it has entered into an agreement to satisfy outstanding indebtedness of $ 56,306 by the issuance of 1,126,120 common shares at a deemed price of $ 0.05 per share. The indebtedness consists of the accrued interest as of February 28, 2013 on the payable debenture.
Affinor is a mineral exploration company with interests in various mineral properties in the Province of Quebec and whose objective is to develop mining projects.
Forward looking Statements: The statements contained in this release that describe objectives and expectations, may constitute forward-looking statements within the meaning of securities legislation. The Company cautions that, by their very nature, forward-looking statements involve risks and uncertainties and, therefore, a project or goal could not be achieved.
- Investment & Company Information
Chief Financial Officer
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