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Re: Corporate News - Wednesday, July 28, 2010
Logan Resources Signs Option Agreement with Ridgemont Capital
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Vancouver -- July 28, 2010 - Logan Resources Ltd. (the "Company") (TSXV:LGR) announces that it has signed a definitive option agreement dated July 27, 2010 (the "Agreement") with Ridgemont Capital Corp. ("Ridgemont") whereby Ridgemont can acquire up to 75% of the Company's 100% interest in the Redford Property (the "Project") on Vancouver Island, British Columbia (the "Transaction"). The terms of the Agreement were previously reported in a news release on June 1, 2010 announcing the signing of the letter of intent.
The Transaction is intended to be Ridgemont's "qualifying transaction", as such is defined under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), and therefore the Transaction is subject to Exchange acceptance. Upon completion of the Transaction, Ridgemont expects that it will be classified as a mining issuer under the policies of the Exchange and will be engaged in the exploration and development of prospective gold properties, including the Project.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
Seamus Young
President and CEO
For Further Information Please Contact:
Seamus Young, President & CEO
syoung@loganresources.ca
T: 604-689-0299 x 223
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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Copyright (c) 2010 LOGAN RESOURCES LTD. (LGR) All rights reserved.
For more information visit our website at http://www.loganresources.ca/
or send mailto:info@loganresources.ca
Message sent on Wed Jul 28, 2010 at 6:00:00 AM Pacific Time
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Logan Resources Ltd
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CODE : LGR.V |
ISIN : CA5410953031 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Logan Resources is a silver and gold exploration company based in Canada. Logan Resources holds various exploration projects in Canada. Its main exploration properties are CHEYENNE, CASSIAR PLATEAU and HEIDI in Canada. Logan Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 2.6 millions as of today (US$ 2.0 millions, € 1.6 millions). Its stock quote reached its highest recent level on September 22, 2000 at CA$ 9.60, and its lowest recent point on February 19, 2016 at CA$ 0.03. Logan Resources has 42 740 000 shares outstanding. |