NORTHERN ABITIBI MINING CORP. ("NAI")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: October 30, 2012
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation the Option Agreement (the "Agreement") between the Company and Spruce Ridge Resources Ltd. (the "Spruce Ridge"), an arms length public company, whereby the Company sell its 100% interest in the 36 mineral exploration claims located in the White Bay area of western Newfoundland, in the province of Newfoundland and Labrador. In consideration, Spruce Ridge will pay an aggregate of $200,000 in cash and an issue up to 10,000,000 common shares of Spruce Ridge ("Spruce Ridge Shares"), of which an initial payment of 5,000,000 Spruce Ridge Shares will be issued at a deemed price of $0.12 per share upon approval of shareholders of the Company.
Insider / Pro Group Participation: None
For further information please refer to the Company's press releases dated August 14, 2012, October 17, 2012 and October 29, 2012.
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