TSX-V:ADG
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News
Arcus Acquires Second Mexican Project
2008-04-17 15:37:47
April 17, 2008 – Vancouver, British Columbia
Arcus Development Group Inc. (TSX-V: ADG) announces that it has concluded an agreement with Riverside Resources Inc. (TSX-V: RRI) under which Arcus has been granted an option to acquire a majority interest in La Ventosa property, located in Oaxaca, Mexico. La Ventosa property covers an area of 10,175 hectares and is 15 kilometres northeast from Juchitan City. La Ventosa property is located in a relatively unexplored area of southeastern Oaxaca.
Infrastructure in the area is very good and unlike much of Oaxaca which is mountainous and contains a large number of small villages, La Ventosa property is located on easily accessible, semi-arid flatlands near the Pacific coast. The property was acquired by Riverside through staking and is not subject to any underlying royalty or third-party interests.
Subject to TSX Venture Exchange acceptance, Arcus can earn up to a 65% interest in the property under a staged option. To exercise an initial option and acquire a 51% interest in La Ventosa property, Arcus is required to pay Riverside $150,000 cash, issue 200,000 Arcus shares to Riverside and incur exploration expenditures of $2,000,000 prior to the third anniversary of the option agreement. Exploration expenditures in year one of the initial option include a firm commitment of $250,000.
After exercising the initial option, Arcus will have a second option to acquire an additional 14% interest in the property by incurring a further $2,000,000 in exploration expenditures within a two year period and by paying Riverside $300,000.
Ian Talbot, the President of Arcus stated, “We are very pleased to have concluded a second Mexican project agreement with Riverside. La Ventosa property is an excellent early stage exploration target in an area that has not been exposed to extensive modern exploration. Work at La Ventosa should be very cost effective and progress rapidly as the area is easily accessible and has excellent infrastructure. Our Mexican property portfolio, which now contains the Chapalota (April 14, 2008 new release) and La Ventosa properties, exposes Arcus to gold exploration projects in both Oaxaca and Sinaloa.”
Arcus options Chapalota gold prospect from Riverside Resources
2008-04-16 15:57:13
Vancouver, BC – April 11, 2008:
Arcus Development Group Inc. (“Arcus”) and Riverside Resources Inc. (“Riverside”) announce that subject to TSX Venture Exchange acceptance, Riverside has granted Arcus an option to acquire up to a 65% interest in the Chapalota gold prospect, located in southern Sinaloa, Mexico. The Chapalota property was acquired through staking and is wholly-owned by Riverside.
The Chapalota property covers an area of approximately 91 square kilometres and lies along the western edge of the Sierra Madre Occidental Volcanic Province. The property was staked by Riverside on the basis of geology, known gold anomalies and small scale historic gold production in the area. The shear hosted quartz-sericite alteration and deformed quartz veining at Chapalota is similar to that at the Herradura Gold Mine (Penoles/Newmont). The Chapalota property also lies immediately north of La Noria Mo-Cu-Ag project (Geoinformatics Exploration/Kennecott). Geologically similar intrusions and breccias to those at La Noria have been identified at the Chapalota property by Riverside.
To exercise an initial option and acquire a 51% interest in the Chapalota property, Arcus is required to pay Riverside $300,000 cash, issue Riverside 350,000 Arcus shares and incur exploration expenditures of $4,000,000 prior to the fourth anniversary of the option agreement. Exploration expenditures in year one of the initial option include a firm commitment of $350,000. After exercising the initial option, Arcus will have the right to acquire an additional 14% interest in the property by incurring a further $2,500,000 in exploration expenditures within a two year period and paying Riverside $500,000.
The Chapalota property is not subject to any underlying royalty interests and no finder’s fee was paid in connection with this transaction.
Eric Tweedie, the Arcus VP of Exploration stated, “The Chapalota property represents an excellent exploration opportunity for Arcus based on the geological setting and past gold production in the region. Riverside’s team has done a very good job of identifying high quality gold prospects in areas that have not already been extensively explored.”
John-Mark Staude, the Riverside President and CEO stated, "Riverside is delighted to partner with Arcus on the Chapalota project as this project lies in a major gold belt of western Mexico in a region with hundreds of years of precious metal production. We look forward to collaborating in exploration and unlocking the value to all stakeholders".
About Arcus
Arcus is a well structured Vancouver based mineral exploration company operated by experienced management. The Arcus business model is to acquire interests in quality mineral prospects by way of joint venture or other collaborative arrangements with exploration groups recognized in the industry as competent project generators.
About Riverside:
Riverside follows a prospect generator business model using experienced local prospectors, explorers and geologists to identify and acquire high quality mineral opportunities. To date Riverside has announced several property acquisitions which are summarized at www.rivres.com, and continues building a diverse mineral property portfolio.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Williams Property Option Terminated
2008-01-31 11:48:49
Vancouver, BC – January 31, 2008:
Ian Talbot, President and CEO of Arcus Development Group Inc. (“Arcus”) reports that Arcus has terminated its option to acquire an interest in the Williams property, located in north-central British Columbia. Arcus held an option to acquire a 60% interest in the Williams property under the terms of a 2006 property agreement with Rimfire Minerals Corporation.
Arcus completed exploration programs on the Williams property in 2006 and 2007. The $200,000 program in 2007 was funded as part of the Arcus IPO, completed in late October 2007. Arcus retains no interest in the Williams property following termination of the property option.
“In keeping with our business model and management strengths, Arcus will continue to pursue mineral exploration opportunities both domestically and abroad. However, in the short term the focus will likely be on projects outside of Canada”, stated Eric Tweedie, VP Exploration.
On behalf of Arcus Development Group Inc.
“Ian J. Talbot”
Ian J. Talbot, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
MD & A and Interim Financials
2008-01-03 09:23:27
For period ending October 31st, 2001. Links available in FINANCIAL REPORTS section of the website under the pull down menu INVESTORS.
Nov. 27th, 2007 article in Business in Vancouver
2007-12-11 16:33:58
Ian Talbot and Eric Tweedie are featured in an article by Glen Korstrom entitled "Former BHP Executives Roll Dice with Arcus IPO"
The complete story is available for viewing in the ARTICLES & RELATED LINKS section in the pull down menu under INVESTORS
Audited Financial Statements - July 31, 2007 & 06
2007-12-07 11:18:06
The statements are available for viewing on SEDAR and in the FINANCIAL REPORTS section of this website in the pull down menu under INVESTORS.
TSX BUlletin - Arcus to list on TSX-V at the open
2007-10-23 10:09:48
ARCUS DEVELOPMENT GROUP INC. ("ADG")
BULLETIN TYPE: New Listing-IPO-Units, Non-Brokered Private Placement
BULLETIN DATE: October 22, 2007
TSX Venture Tier 2 Company
The Company's Initial Public Offering ('IPO') Prospectus dated
September 19, 2007, has been filed with and accepted by TSX Venture Exchange
("Exchange"), and filed with and receipted by the British Columbia, Alberta,
and Ontario Securities Commissions on September 24, 2007, pursuant to the
provisions of the applicable Securities Acts.
The gross proceeds received by the Company for the Offering were
$1,664,200 (4,160,500 units at $0.40 per unit). Each unit consists of one
common share in the capital of the Company and one-half of one common share
purchase warrant. Each whole share purchase warrant entitles the holder to
acquire an additional common share in the capital of the Company at $0.60 per
share for a period of 18 months from the date of listing of the shares on the
Exchange). The Company is classified as a 'Mining' Company.
Commence Date: At the opening on Tuesday, October 23, 2007, the
Common shares will commence trading on TSX
Venture Exchange.
Corporate Jurisdiction: British Columbia
Capitalization: Unlimited common shares with no par value of
which
13,181,241 common shares are issued and
outstanding
Escrowed Shares: 2,953,574 common shares are subject to a 36
month staged release escrow
Transfer Agent: Pacific Corporate Trust Company.
Trading Symbol: ADG
CUSIP Number: 03968J 10 2
Agent: Research Capital Corporation.
Agent's Units: 322,840 Agent's Units, each exercisable at a
price of $0.40 per Agent's Unit to acquire one
common share of the Company and one half share
purchase warrant (Agent's Warrant"). Each whole
Agent's Warrant is exercisable to acquire a
further common share at a price of $0.60 for a
period of 18 months from the date of listing of
the shares on the Exchange.
For further information, please refer to the Company's Prospectus dated
September 19, 2007.
Company Contact: Ian Talbot
Company Address: 200-1311 Howe Street
Vancouver, BC V6Z 2P3
Company Phone Number: 604 691-1734
Company Fax Number: 604 669-3688
Non-Brokered Private Placement:
Concurrent with the IPO, TSX Venture Exchange has accepted for filing
documentation with respect to a Non-Brokered Private Placement announced
October 19, 2007:
Number of Shares: 601,000 shares
Purchase Price: $0.40 per share
Warrants: 300,500 share purchase warrants to purchase
300,500 shares
Warrant Exercise Price: $0.60 for an 18-month period
Number of Placees: 15 placees
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company
must issue a news release announcing the closing of the private placement and
setting out the expiry dates of the hold period(s). The Company must also
issue a news release if the private placement does not close promptly. Note
that in certain circumstances the Exchange may later extend the expiry date of
the warrants, if they are less than the maximum permitted term.
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News
Arcus Acquires Second Mexican Project
Arcus options Chapalota gold prospect from Riverside Resources
Williams Property Option Terminated
MD & A and Interim Financials
Nov. 27th, 2007 article in Business in Vancouver
Audited Financial Statements - July 31, 2007 & 06
TSX BUlletin - Arcus to list on TSX-V at the open
Events
2008 World Outlook Financial Conference
Ian Talbot will be making a presentation February 1st, 2008 at the Westin Bayshore in Vancouver BC
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