ABE Resources Inc.

Published : July 31st, 2014

ABE Resources receives $835,439 in Quebec exploration credits, pays off loan and sells property

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ABE Resources receives $835,439 in Quebec exploration credits, pays off loan and sells property

VAL-D'OR, QC , July 31, 2014 /CNW Telbec/ - ABE Resources Inc. (the "Corporation"; "ABE") (ABE.V) announces that it has received $835,439 in refunds from the Québec government, repaid a $657,244 loan from Investissement Québec ("IQ") and completed the sale of its Jérémie property.

ABE received in July a total of $835,439 in reimbursement of Québec mining tax credits related to exploration funds expended in Québec between 2008 and 2011. The Corporation had applied for the credits in mid-2013. Following receipt of the funds, the Corporation reimbursed in full a secured loan, contracted earlier this year, of $657,244 to Investissement Québec. An irrevocable standby letter of credit of $65,725 related to the IQ loan was also cancelled and deposited in ABE's account.  The Corporation has a current cash balance of over $600,000 and marketable securities valued at over $400,000 .

The Corporation also announces the sale of its Jérémie property to Balmoral Resources Ltd ("BAR"). ABE has received 60,000 common shares of BAR in return for a 100% undivided interest in the 17 claim property located in the lac Grasset area of northwestern Québec.  ABE also retains a 1% NSR royalty on the property. Balmoral will have the right, at any time, to purchase from ABE 50% of the NSR for $500,000 and shall have a right of first refusal on the sale or transfer of ABE's royalty interest.

About ABE Resources
ABE Resources is a Quebec mineral exploration company focused on the discovery and development of mineral deposits of economic potential in Québec. The company is currently exploring its Mazarin and Valrennes gold and/or base metal properties in the Abitibi region and completing a due diligence program for possible acquisition of a third party property. ABE currently has 11,510,944 common shares issued and outstanding.

The Company's public documents may be accessed at www.sedar.com

For further information on the Company, please visit our website at www.ressourcesabe.ca or contact us at info@ressourcesabe.ca

Neither 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.
This press release contains "forward-looking information" which is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information.

SOURCE ABE Resources Inc.

Read the rest of the article at finance.yahoo.com

ABE Resources Inc.

DEVELOPMENT STAGE
CODE : ABE.V
ISIN : CA00288T1093
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ABE Resources is a uranium and gold exploration company based in Canada.

ABE Resources holds various exploration projects in Canada.

Its main asset in development is CENTRAL MINTO in Canada and its main exploration properties are COURVILLE, ST. STEPHEN, L URANIUM PROPERTY, LAVOIE, SENNETERRE- QUEVILLON (LAC CLEMENT), ST CYR - ABITEX and EPSILON in Canada.

ABE Resources is listed in Canada. Its market capitalisation is CA$ 2.9 millions as of today (US$ 2.2 millions, € 1.8 millions).

Its stock quote reached its highest recent level on January 23, 2009 at CA$ 2.70, and its lowest recent point on October 28, 2016 at CA$ 0.02.

ABE Resources has 5 760 000 shares outstanding.

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Financings of ABE Resources Inc.
4/1/2014Completes Private Placement And Issues Options
10/26/2009Completes second tranche of private placement raising $257,2...
10/19/2009Completes first tranche of private placement raising $662,95...
7/13/2009announce that it has completed the second tranche of a priva...
6/12/2009has completed the first tranche of a private placement
8/1/2008ANNOUNCES FIRST CLOSINGS OF PRIVATE PLACEMENT RAISING $6,346...
7/9/2008ANNOUNCES PRIVATE PLACEMENT OF UP TO $12,000,000
Project news of ABE Resources Inc.
7/31/2014ABE Resources receives $835,439 in Quebec exploration credit...
9/10/2009(Epsilon)discovery of a new high grade Uranium
1/22/2009(Central Minto)discover uranium mineralization at Central Minto
Corporate news of ABE Resources Inc.
5/27/2016ABE Resources Reports on Annual Meeting
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3/26/2015Reports on Annual Meeting and Awards Options
3/26/2015ABE Resources Reports on Annual Meeting and Awards Options
7/31/2014receives $835,439 in Quebec exploration credits, pays off lo...
4/1/2014ABE Resources Completes Private Placement And Issues Options
3/3/2014reports on Annual Meeting and announces property acquisition...
2/6/2014ABE Resources Adopts Advance Notice By-Law
4/16/2013ABE Resources Completes Name Change and Share Consolidation
3/29/2013ources Share Consolidation and Name Change
7/20/2011names new CFO
5/26/2011(St. Stephen)JV Partner Continental Nickel Commences Airborne Geophysical...
4/27/2011News Release
4/26/2011(Courville)and Pershimco set up strategic alliance to develop the Courv...
2/24/2009encouraging uranium results on the Kangiq property, Nunavik,...
1/28/2009Press Release
1/23/2009ANNOUNCES AMENDMENTS TO PROPERTY OPTION AGREEMENTS
9/16/2008ANNOUNCES ACQUISITION OF CENTRAL URANIUM CORPORATION
9/15/2008Announces board changes
9/15/2008Announces proposed acquisition of central uranium corp
9/10/2008ACQUIRES EPSILON URANIUM PROPERTY
9/9/2008of Abitex Resources Inc.
5/26/2008of Resources Abitex Inc.
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TSX-V (ABE.V)
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