DEEP:CC - DeepRock Minerals Terminates Property Purchase in Romania
(TheNewswire)
VANCOUVER, CANADA – TheNewswire- July 25, 2023 - DeepRock Minerals Inc (CSE:DEEP) (“DeepRock”or the “Company”) announces that the Company and Augustine TradingProfessionals SRL (“Augustine”) have mutually agreed to terminatethe property purchase agreement (the “Purchase Agreement’) betweenthem dated August 31, 2021, whereby the Company was to purchase fromAugustine a mineral property in Romania known as the Dragon ValleyProperty.
DeepRock had advanced $275,000 of the purchaseprice to Augustine and had taken no further action. Upon the return ofthe $275,000 from Augustine to DeepRock, which is to occur beforeOctober 30 th , 2023, the parties will have no further obligations to eachother.
Andrew Lee, Chief Executive Officer of DeepRock,explained the decision, stating, “Our focus is on the EsperançaLithium Property in Brazil and the Golden Gate Project in NewBrunswick, so dropping the Dragon Valley Property and getting our cashback makes a lot of sense. The Company is currently evaluating itsstrategies and expects to provide further guidance in the comingweeks.”
ON BEHALF OF THE BOARD OFDIRECTORS
“Andrew Lee”
Andrew Lee
CEO, President, and Director
For more information, pleasecontact:
Andrew Lee
Chief Executive Officer, Director
Email:andrew@deeprockmineralsinc.com
Phone: 778-302-2257
Cautionary Note RegardingForward-Looking Statements:
Neither the Canadian Stock Exchangenor its Regulation Services Provider accepts responsibility for theadequacy or accuracy of this release. This news release contains"forward-looking information" including statements withrespect to the future exploration performance of the Company. Thisforward-looking information involves known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to be materially differentfrom any future results, performance or achievements of the Company,expressed or implied by such forward-looking statements. These risks,as well as others, are disclosed within the Company's filing on SEDAR,which investors are encouraged to review prior to any transactioninvolving the securities of the Company. Forward-looking informationcontained herein is provided as of the date of this news release andthe Company disclaims any obligation, other than as required by law,to update any forward-looking information for any reason. There can beno assurance that forward-looking information will prove to beaccurate and the reader is cautioned not to place undue reliance onsuch forward-looking information.
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