SPANISH MOUNTAIN GOLD LTD. ("SPA")
ACREX VENTURES LTD. ("AKV")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Property-Asset or Share Disposition Agreement
BULLETIN DATE: August 14, 2012
TSX Venture Tier 2 Companies
TSX Venture Exchange has accepted for filing documentation pertaining to a Mineral Claims Purchase Agreement dated July 25, 2012 between Spanish Mountain Gold Ltd. ('Spanish Mountain') and Acrex Ventures Ltd. ('Acrex'), pursuant to which Spanish Mountain will acquire an undivided 100% right, title and interest in and to 11 mineral claims covering a total of 1,526 hectares near Likely, British Columbia from Acrex. In consideration, Spanish Mountain will pay $500,000 and issue 1,500,000 shares and make an additional payment of $250,000 or 500,000 shares at the option of Spanish Mountain.
Acrex reserves a 4.0% net smelter return royalty which may be reduced to 2.0% for the payment of $2,000,000.
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