Correction : Sorry , after reading the 8K , we acquired 50% in Coronet USA , which is a subsidiary of Coronet Inc. , nothing on his other Gold properties.
"On September 27, 2014, First Liberty Power Corp. executed a binding Letter of Intent (“LOI”) under which First Liberty Power Corp. and/or its wholly owned subsidiary First Liberty Mineral Processing Corp. (collectively, “First Liberty”) will enter into a definitive share purchase agreement (the "SPA") on or before October 6, 2014 (“Effective Date”) to acquire 50% of the issued and outstanding shares of Coronet Metals US Inc. (“Coronet USA”), which currently holds a lease to operate (the “Lease”) the Liberty Precious Metals Processing Facility (“Liberty Mill”) located in Amargosa Valley, Nevada, from Coronet Metals Inc. (“Coronet”).
As a result of this transaction, First Liberty will have a 50% ownership interest in Coronet USA, which includes the following: i) all of Coronet USA’s equipment, lease-hold improvements, and other assets, valued at approximately $2.1 million; (ii) all identified liabilities of Coronet USA, totalling approximately $100,000K; (iii) all obligations and rights under the Lease held by Coronet USA in respect of the Liberty Mill and associated permits, and; (iv) prioritization for the processing and refining of First Liberty and Coronet sourced ore and/or concentrates.
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“The majority see the obstacles; the few see the objectives; history records the successes of the latter, while oblivion is the reward of the former.”
Alfred A. Montapert
