Cannon Exploration Inc. (fka CNEX)

[bigstocksnbonds]

At the bottom of page F5 in the financials it states that the new claims.Under the arrangement the company is required to spend $300,000.00 on each an option payment and work programs by the end of 2012 and $500,000.00 each on an option payment and work programs.The companies ownership stake will increase with each option payment.Thats on each option.edwin hasnt told us how many options there are yet.We know there is 1 for the origional claim on the queen and we believe there to be 2 additional seperate claims in option making a total of 3 options involved.TIMES THAT MUCH MONEY ON EACH OPTION.I wasnt really assuming it. www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=39361

That is A LOT of money he has to raise, at least $800,000----I wonder how he's planning to pay for that??? A JV possibly, as Karen alluded to recently??