Acrex Ventures Ltd

Published : August 22nd, 2012

Closes Sales of Spanish Mountain Mineral Claims

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Wednesday, August 22, 2012 NEWS RELEASE
 
 
Acrex Closes Sales of Spanish Mountain Mineral Claims

Acrex Ventures Ltd. ("Acrex") and Spanish Mountain Gold Ltd. ("SMG"), on August 21, 2012, closed the agreement pursuant to which Acrex sold to SMG its 11 Spanish Mountain mineral claims ("Claims") which are located near Likely, British Columbia.

In consideration of the sale Acrex received:

(a) a cash payment of $500,000; and

(b) 2,000,000 shares of SMG -- which were issued subject to a non-trading hold period which will expire December 22, 2012.

There is also reserved to Acrex the right to receive a 4.0% net smelter return royalty which will be payable by SMG from and after the commencement of a commercial production from the Claims. SMG has the right to buy down the royalty reserved to Acrex from 4.0% to 2.0% by paying a total of $2 million of which $1,000,000 will be paid to Acrex and $1,000,000 to a former owner who reserved a 3.0% net smelter return royalty in the agreement by which he sold 10 of the Claims to Acrex -- subject to a buy down of his royalty to 1.0% by the payment of $1,000,000.

The sale was completed pursuant to an Agreement between Acrex and SMG dated July 25, 2012 -- which was announced in Acrex's News Release dated July 25, 2012.



 
 
FOR FURTHER INFORMATION ON ACREX VENTURES PLEASE CONTACT:
 
Investor Relations - Tel: (604) 618-1758
Fax: (604) 277-0815
e-mail: info@acrexventures.com
website: www.acrexventures.com
 
 
ACREX VENTURES LTD.

Per:
   T.J. Malcolm Powell,
   President

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 News Release.
 

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�2012 Acrex Ventures Ltd.
Disclaimer
Stock Symbol: TSX-V: AKV
Suite 2300-1066 West Hastings Street
Vancouver, British Columbia
Canada V6E 3X2
Tel: 604.618.1758
Fax: 604.277.0815
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Acrex Ventures Ltd

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CODE : AKV.V
ISIN : CA0049371085
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Acrex Ventures is a silver and gold exploration company based in Canada.

Its main asset in development is SPANISH MOUNTAIN in Canada and its main exploration property is GRIZZLY-KELLAR LAKE in Canada.

Acrex Ventures is listed in Canada and in United States of America. Its market capitalisation is CA$ 407 600 as of today (US$ 382 492, € 280 252).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 0.46, and its lowest recent point on July 09, 2014 at CA$ 0.01.

Acrex Ventures has 40 760 000 shares outstanding.

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Annual reports of Acrex Ventures Ltd
2007 Annual report
2006 Annual report
Project news of Acrex Ventures Ltd
12/13/2011(Spanish Mountain)Continues to Define a Gold-Bearing Corridor on its Spanish M...
9/13/2011Commences Exploration on its Rainbow Canyon Gold Property, N...
8/4/2011Plans Drill Program for its Rainbow Canyon Property, Nevada
5/3/2011Provides Update on its Rainbow Canyon Gold Property in Nevad...
3/31/2011Purchases Nevada Gold Property
8/23/2010(Spanish Mountain)Extends Priority Gold Target On Its Spanish Mountain Propert...
8/10/2010(Spanish Mountain)Discovers Priority Gold Target On Its Spanish Mountain Prope...
7/6/2010(Spanish Mountain)Completion of Soil Sampling and Prospecting Programs
1/8/2009Intersects Gold in Diamond Drilling of Don's Lake Gold Prope...
12/31/2008(Honeymoon Property)grants options, files SEC Deregistration and terminates Hone...
11/5/2008(Don's Lake)Completes Diamond Drilling Program on Don's Lake Gold Proper...
9/4/2008Undertakes Diamond Drilling on its Don's Lake Gold-Uranium P...
7/30/2008(Timmins - Whitney Township)Moneta JV Confirms and Expands "55 Zone" Gold Mineralization...
Corporate news of Acrex Ventures Ltd
12/16/2013Holiday Wishes from all of us at Acrex Ventures
8/22/2012(Spanish Mountain)Closes Sales of Spanish Mountain Mineral Claims
7/31/2012(Spanish Mountain)Agrees to Sell its Spanish Mountain Mineral Claims
5/8/2012MD&A and Financials
12/19/2011Happy Holiday Wishes from Acrex Ventures Ltd.
6/6/2011' Rainbow Canyon Property Purchase Accepted By Stock Exchang...
6/1/2010Commencement of the 2010 Exploration Program on its Cariboo ...
5/18/2010Options Grizzly-Kellar Property In The Chibougamau Region Of...
4/7/2010To be featured on CEO Clips Airing on the Business News Netw...
3/16/2010CEO Clips is featuring Acrex Ventures on The Biography Chann...
12/9/2009Sells its 50% Michaud Joint Venture Interest for $1,000,000
6/2/2009Announces the Launch of Its New Corporate Website
3/3/2009to be Featured on CEO Clips on The Biography Channel
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