|By Marketwired .||
|June 18, 2014 04:27 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/18/14 -- Lakeside Minerals Inc. (TSX VENTURE: LAK) (the "Company") is pleased to announce it has amended the terms to its Launay property agreement (which had been was entered into prior to listing).
The final payment of the $45,000 which had been due on June 1st, 2014 has now been restructured as follows:
-- $30,000 will be payable in shares for a total issuance of 600,000 shares at $0.05 -- $15,000 will be payable on June 30th, 2014 -- An additional $15,000 will be payable on December 15th, 2014
The December 15th payment will be the final property payment after which Lakeside will have no further obligations to the vendors under the agreement. All other terms of the agreement of the Launay property remain the same. The issuance of common shares of the Company as consideration for the amendment of the Launay property agreement is subject to the final approval of the TSX Venture Exchange. The issuance of the Shares will not result in a change of control of the Company and will be subject to a four-month hold period from the date of issuance.
About Lakeside Minerals Inc.
Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing mineral properties. The Company's flagship Launay property is 102.5 km2 land package located in the heart of the Abitibi, 48 km northeast of Rouyn-Noranda. The Launay property straddles nearly 22 km of the Macamic deformation zone: a major deformation zone in the Abitibi subprovince located north of the Porcupine-Destor deformation zone. Claims cover a 17 km long trend of known gold occurrences, several of which display significant historical and recent gold drill intersections. Lakeside is also pursuing potential acquisitions of interests in undervalued mineral exploration properties with a view to long term value appreciation and the eventual development of a "project generator" business model.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.