Corporate Acquisitions

SUNWARD COMPLETES ACQUISITION OF 100% OF TITIRIBI PROJECT AND BUY-OUT OF 2% NSR

Investors Business Daily |

In Brief...

Company") (SWD) is pleased to announce that it has completed the acquisition of 100% of the shares of Goldplata Resources Limited ("GRL"), the holder of 100% of the Titiribi project in Colombia, free of royalties, pursuant to its amended agreement with the vendor as announced on September 23, 2010. The revised agreement, no longer requires Sunward to complete a bankable feasibility study before vesting its 80% interest, and allows Sunward to immediately take a 100% interest in the project and to acquire the 2% NSR, all in exchange for the issuance of 6 million shares of Sunward. The Company also issued 5 million shares to Gold First Investments Limited ("Gold First") pursuant to its agreement with Gold First dated October 28, 2009. Gold First is a BVI incorporated company based in Hong Kong. This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.

Read the entire article at Investors Business Daily...

Related Topics