As per the sale agreement, share consideration of up to 2,000,000 Crusader Shares are issuable as follows and are subject to a voluntary escrow of 12 months from completion:
-- 500,000 Crusader Shares upon completion of the Transaction; and -- 750,000 Crusader Shares upon definition of a JORC compliant gold resource of at least 400,000 ounces greater than 10g/t Au in the Indicated category within 5 years of completion; and -- 750,000 Crusader Shares upon gold production at an annual rate of at least 20,000 ounces of gold over a 90 day period within 5 years of completion.
About the Company:
For further information about the company, please visit www.lagodourado.com or www.sedar.com
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur, including the closing of the Transaction. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Forbes GemmellPresident and Chief Executive Officer Tel: (416) 368-5005 Email: firstname.lastname@example.org Source: Lago Dourado Minerals Ltd.