Searchlight Resources Inc (SCLTF)

[sweetpepperjam]

Yep, nice 8K...

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On October 20, 2011, Canyon Copper Corp. (the “Company”) entered into a stock repurchase agreement (the “Agreement”) with the liquidators of Langley Park Investment Trust plc (“Langley Park”) whereby the Company agreed to repurchase 500,000 Series A 0% Convertible Preferred Stock of the Company (the “Preferred Stock”) that was previously issued to Langley Park in 2004. In consideration for Langley Park surrendering the Preferred Stock to the Company for cancellation, the Company has agreed to pay Langley Park USD $15,000.

The Company anticipates that the closing of this transaction will occur on or before October 31, 2011.