Tickers: XTSX:AIIM, PINX:MJXFF
Tags: Mining
Ottawa, Ontario / The Newswire / March 20, 2018 - Albert Mining Inc. ("Albert" or "Corporation") (TSX-V: AIIM), a mining exploration company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques in the mining sector, is pleased to announce the signing of a purchase agreement with 9248-7792 Quebec Inc. ("seller") to acquire nine mining titles at Lac Guillaume, 30 km west of Shefferville in the province of Quebec.
Under the terms of the agreement, Albert will issue 150,000 common shares of its share capital to the seller, at a deemed price of $0.075 per share, in payment for the acquisition of the assets and will grant a 1% NSR. Albert may, at any time, buy back 0.5% NSR by paying $500,000 to the seller. Should the seller receive an offer from a third party to purchase the full or a portion of the NSR, Albert must be immediately notified in writing and must receive a copy of the offer. Albert will have the right of first refusal within 60 days following reception of the offer or buy back the NSR as per the terms and conditions stipulated in the offer received from the third party.
The transaction is subject to terms and conditions such as receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. All monies quoted in this news release shall be stated and paid in lawful money of Canada.
About Albert Mining Inc.
Albert is a junior mining exploration company with an extensive portfolio of gold, copper and diamond properties in Quebec. Albert also recently acquired assets from DIAGNOS Inc.'s mining division, including the Computer Aided Resources Detection System ("CARDS"). Albert can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.
For further information, please contact:
Michel Fontaine
President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@albertmining.com
Website: www.albertmining.com
Albert Mining-Powered by Artificial Intelligence
Additional information about the Company is available under Albert's profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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