THRA NEWS:Therma-Med, Inc. Signs LOI in Ag/Zn/Pb Mineralized Property in B.C.
TORONTO, May 18, 2011 (MARKETWIRE via COMTEX) -- Therma-Med, Inc. (pinksheets:THRA) ("the Company") would like to announce it has signed an LOI to purchase Interest in Silver property in British Columbia, Canada.
The Property of interest is located within the Mining Division of Slocan, B.C., Canada. The property's geology is part of a Northwest-trending belt of sedimentary rocks called the Slocan Group. Further information regarding the LOI and the property details remain confidential and will be released immediately when the deal has been finalized.
The letter on Intent is subject to an "Exclusivity Period" until June 01, 2011, during which both parties agree to negotiate the final terms and conditions for the Definitive Agreement. The LOI will be superseded by a definite agreement and closing will be subject to several conditions including and limited to, completion of satisfactory due diligence and the receipt of required third party consents. During the Exclusivity period and until the closing date, THRA shall continue to operate its business in the ordinary course.
"I believe that this business decision can bring the company to new and higher levels much faster than if Therma remained at the stage where it was before this turnover. With the guidance and participation on this project of Zajay Trujillo, I see this as a win-win situation for all of our shareholders as this step has a strong potential to increase their value and secure significant future growth for the company," said Joshua Suarez, President of Therma-Med, Inc.
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