PARA RESOURCES INC ("PBR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 21, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing:
1. Share and Loan Purchase Agreement (the "Martin Agreement") dated March 7, 2016, between the Para Resources Inc. (the "Company") and James Randall Martin ("Martin"), whereby the Company will acquire 875 shares ("Martin CML Shares") of Columbia Milling Limited ("CML"), be assigned US$875,000 of loans owed by CML to Martin (the "Martin Loans") in consideration of 13,213,340 units @ $0.09 (the "Unit"), with each Unit consisting of one common share and one share purchase warrant (the "Warrant"), each Warrant entitling the holder to purchase one share @ $0.20 for 18 months. AND
2. Share and Loan Purchase Agreement (the "SAEF Agreement") dated Feb 11, 2016, between the Company and SAEF Exploration Inc. ("SAEF"), whereby the Company will, acquire 420 shares ("SAEF CML Shares") of Columbia Milling Limited ("CML"), be assigned US$420,394.47 of loans owed by CML to SAEF(the "SAEF Loans") in consideration of US$250,000 cash and a promissory note in the amount of US$170,000 (the "SAEF Note"). The SAEF Note is payable six months from issue & accrues interest @7% per annum. SAEF CML Shares will be held in escrow until the SAEF Note is repaid.
As a result of these transactions the Company will hold 100% of Columbia Milling Limited which owns approximately 70% of Four Points Mining S.A. ("Four Points") which owns the El Limon Mine, located in Antioquia, Colombia
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
James Randall Martin Y 13,213,340
Further information on the transactions is available on the Company's SEDAR profile in news releases dated January 13, April 25, May 3, May 24, and June 21, 2016
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