UMB.c Umbral Assigns Interest In Tule Valley, Utah And Gerlach, Nv Lithium Projects
by @thenewswire on April 7, 2017
(TheNewswire)
Vancouver, B.C. / TheNewswire / April 7, 2017 – UMBRAL ENERGY CORP. (CSE: UMB) (“Umbral” or “Company”) is pleased to announce that further to the news release of February 17, 2017, the Company has assigned its 100% interest in the Tule Valley, Utah and the Gerlach, Nevada lithium brine properties.
Equitorial Exploration Corp. (“Equitorial”) has acquired 100% interest in the Tule Valley project in Utah and the San Emidio Project in Gerlach, NV. As consideration, the Company has been issued 2,000,000 common shares in the capital of Equitorial, which are subject to a statutory hold period ending August 8, 2017 in accordance with applicable securities legislation, at an issue price of $0.075 per Share, Equitorial has paid cash consideration to the Company in the amount of $50,000. Equitorial has assumed a payment of $100,000 and Umbral will issue 1,500,000 shares in favour of the underlying owner of the registered owner. There is a 2% NSR in favour of the underlying owner.
About Umbral Energy Corp.
The Company is currently listed as a junior resource issuer having mineral exploration projects. The Company is considering other activities to increase shareholder value, including non-resource projects.
The Company has mineral exploration projects in Utah, Nevada and Quebec. In addition the Company has an interest in PhyeinMed, who has applied for a license from Health Canada to legally grow and sell medical marijuana.
ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.
“Jag Bal”
Jagdip Bal President and CEO
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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