Clarification Announcement Regarding Transaction Outline Letter for Muskwa and Godin Areas
Reference is made to the announcement dated September 26, 2013 regarding the Transaction Outline Letter for Muskwa and Godin Areas. The Board would like to clarify that under the terms of the non-legally binding Transaction Outline Letter, the international third party will be responsible for investing capital up to $250 million Canadian dollars.
The joint venture is subject to certain conditions and the entering into of binding agreements. The Board wishes to emphasize that such binding agreement may or may not proceed. In the event that any formal agreements are entered into, the joint venture may constitute a notifiable transaction for the Company under the Listing Rules and the Company will make announcement(s) as and when appropriate. Shareholders and potential investors are urged to exercise caution when dealing in the securities of the Company.