VAL-D'OR, QUEBEC--(Marketwired - April 11, 2014) - Cartier Resources Inc. (TSX VENTURE:ECR) ("Cartier") is pleased to announce that it has entered into an agreement to acquire a 1% net smelter return (NSR) royalty from Murgor Resources Inc. (TSX VENTURE:MGR) ("Murgor") on the Benoist property (the "Royalty").
On March 24, 2014, Cartier received a notice setting out the material terms and conditions of a proposed sale by Murgor to a third party of the Royalty in an all-share transaction for a value of $75,000.
Cartier has notified Murgor that it was exercising its first refusal right in respect of the Royalty in an all-share transaction for a value of CDN $75,000.00.
An aggregate of 500,000 common shares of Cartier will be issued to Murgor at a price of $0.15 per share ($75,000).
Closing of the Acquisition is expected to occur on April 14, 2014 and is subject to the execution of a definitive agreement and the approval of the TSX Venture Exchange Inc.
The Benoist property is 65 km northeast of the town of Lebel-sur-Quévillon, 25 km south-east of the Bachelor mine and 25 km north-west of the Langlois mine.
The company's objective is to develop and maintain a balanced portfolio of mining projects ranging from exploration to resource definition, development and production. Its VISION is to develop the company's current and future assets into mineral production within a timeframe that is consistent with its human and financial resources while respecting sustainable development practices.
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.