Thursday, March 13, 2014 11:17:24 PM
QIT.v ~ announces its strategy for 2014
MONTREAL, QUEBEC--(Marketwired - March 12, 2014) - Quinto Real Capital Corporation (TSX VENTURE:QIT) ("Quinto" or the "Company") is pleased to announce its strategy for 2014. The Company owns interests in promising projects, including a 10% interest in the Monster Lake property, owned by TomaGold Corporation and under option by IAMGOLD Corporation, and 4,000,000 shares of Perisson Petroleum Corporation, an oil and gas exploration company.
Monster Lake Property
The Company holds a 10% interest in TomaGold Corporation's Monster Lake property. In November 2013, IAMGOLD Corporation signed an option agreement with TomaGold to acquire a 50% interest in the Monster Lake, Winchester and Lac à l'eau jaune properties for $17.575 million, including $16 million in exploration and $1.575 million in payments over five years. Once IAMGOLD has acquired its 50% interest, the interests of TomaGold and Quinto will be diluted proportionately such that TomaGold and Quinto hold interests of 45% and 5%, respectively, in the Monster Lake property.
MONTREAL, QUEBEC--(Marketwired - March 12, 2014) - Quinto Real Capital Corporation (TSX VENTURE:QIT) ("Quinto" or the "Company") is pleased to announce its strategy for 2014. The Company owns interests in promising projects, including a 10% interest in the Monster Lake property, owned by TomaGold Corporation and under option by IAMGOLD Corporation, and 4,000,000 shares of Perisson Petroleum Corporation, an oil and gas exploration company.
Monster Lake Property
The Company holds a 10% interest in TomaGold Corporation's Monster Lake property. In November 2013, IAMGOLD Corporation signed an option agreement with TomaGold to acquire a 50% interest in the Monster Lake, Winchester and Lac à l'eau jaune properties for $17.575 million, including $16 million in exploration and $1.575 million in payments over five years. Once IAMGOLD has acquired its 50% interest, the interests of TomaGold and Quinto will be diluted proportionately such that TomaGold and Quinto hold interests of 45% and 5%, respectively, in the Monster Lake property.
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