Westcan Uranium Corp (WCU)

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Westcan Uranium Corp. Acquires Gold Property
Monday, 14 Nov 2011 08:01pm EST

Westcan Uranium Corp. announced that it has entered into an Option Agreement with an arms-length individual on Claims, located 7 kilometres south of Hedley, in the Hedley Gold Basin of southern British Columbia. The project encompasses approximately 11,000 hectares in the Similkameen and Osoyoos Mining Divisions. Under the terms of the agreement, WestCan will pay the Optionor a total of $150,000 in cash; issue 800,000 shares; and incur a minimum of $1,500,000 of exploration expenditures in exchange for receiving a 100% interest in the project. The commitments are to be staged over a four year period. The Optionor will also receive a 2% Net Smelter Royalty. The agreement is subject to regulatory approval

http://www.reuters.com/finance/stocks/WCU.V/key-developments/article/2434796