Adrian D. Bray, P.Geo., Q.M.C.
Chief Executive Officer, President and Director
Mr. Bray, P. Geo., Q.M.C., has 25 years of experience on national and international projects including grass roots through to advanced exploration and mining, due diligence, project evaluation and the implementation of quality systems and monitoring of quality control. He has worked for numerous public companies such as Lac Minerals Ltd., where he was involved in the discovery and advancement to pre-feasibility of the Red Mountain structurally controlled gold deposit. Mr. Bray was also involved in the initial drilling of the Kemess North porphyry Cu-Au deposit discovery for Northgate Minerals Corp. His memberships include the Geological Association of Canada, B.C. & Yukon Chamber of Mines, and the Prospectors and Developers Association of Canada.
Adrian D. Bray, P.Geo., Q.M.C.
Chief Executive Officer, President and Director
Mr. Bray, P. Geo., Q.M.C., has 25 years of experience on national and international projects including grass roots through to advanced exploration and mining, due diligence, project evaluation and the implementation of quality systems and monitoring of quality control. He has worked for numerous public companies such as Lac Minerals Ltd., where he was involved in the discovery and advancement to pre-feasibility of the Red Mountain structurally controlled gold deposit. Mr. Bray was also involved in the initial drilling of the Kemess North porphyry Cu-Au deposit discovery for Northgate Minerals Corp. His memberships include the Geological Association of Canada, B.C. & Yukon Chamber of Mines, and the Prospectors and Developers Association of Canada.
November 23, 2012
Logan Resources Ltd. (TSX-V: LGR) (“Logan”) announces that it has amended its option agreement (the “Option Agreement”) with Inform Resources Corp. (TSX-V: IRR) (“Inform”) dated October 7, 2011, which grants Inform the option to acquire up to an 80% title and interest in the Heidi Property, located 95 km northeast of Dawson City, Yukon (the “Property”).
While the overall terms of the Option Agreement remain the same (see Logan news release dated October 7, 2011 for additional details), the sequence of payments owing Logan has been adjusted. Logan has agreed to move the cash payment it is due on the first anniversary of the Option Agreement execution date and allow Inform to add this sum to the amount owing on the fourth anniversary of the Option Agreement. Likewise, Logan has agreed to lower the minimum exploration expenditure on the property during the first two years of the Option Agreement, allowing Inform to meet these minimum exploration expenditure obligations on or before the fourth anniversary of the execution date. As compensation for these amendments, Inform has agreed to issue to Logan an additional 50,000 common shares of Inform on or before the fourth anniversary of the Option Agreement.
The amendment remains subject to any required regulatory approvals, including the approval of the TSX Venture Exchange.
About Logan
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
“Adrian Bray”
President & CEO
For further information regarding this press release, please contact:
Konstantine Tsakumis, Investor Relations
T: 604-681-8030 x 232
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements in this document include statements about the Property and terms of the Option Agreement. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Logan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
]]>Carlo Valente, BBA
Chief Financial Officer
Mr. Valente is a chartered accountant with a background in corporate transactions, public markets and accounting obtained over a fifteen year span with the Vancouver and Milan offices of PricewaterhouseCoopers. Mr. Valente was most recently Managing Director and his focus over the last twelve years was advising corporations, private equity firms and sovereign wealth funds on M&A transactions, of which a significant portion was in the natural resources sector.
Mr. Valente graduated from Simon Fraser University in 1997 with a BBA and obtained his CA designation in 2000. He is a member of both the Institute of Chartered Accountants of British Columbia and the Canadian Institute of Chartered Accountants.
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]]>December 17, 2013
Logan Resources Ltd. (TSX.V: LGR) ("Logan") is pleased to announce the appointment of Stewart Wallis P.Geo, to the Board of Directors of Logan, effective immediately.
Stewart Wallis began his career with Cominco Ltd. carrying out exploration for base and precious metals throughout Eastern Canada. Since 1994, he has been the managing director of Sundance Geological Ltd., a consulting company which provides geological services including due diligence, prefeasibility and NI 43-101 Technical Reports on gold, PGE, uranium and base metal operating and exploration properties located throughout the world. Mr. Wallis was the President and Chief Executive Officer of Jet Metal Corp. (formerly Crosshair Energy Corp.) (TSX) from 2009 until September 2013, and currently sits on the boards and is a member of the Audit Committees of Jet Metal Corp. (TSX) and SG Spirit Gold Inc. (TSX-V). Mr. Wallis received his B.Sc. in Geology from McMaster University in Hamilton, Ontario. His professional affiliations include APEG B.C.
Mr. Wallis will replace Board member David Weisser, effective immediately. Logan would like to thank Mr. Weisser for his efforts and continued support of Logan.
About Logan
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
"Adrian Bray"
President & CEO
For further information regarding this press release, please contact:
Investor Relations
T: 604-681-8030 x 240
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
]]>Dated: November 29, 2010
Logan Resources Ltd. (TSX-V:LGR) ("Logan") is pleased to announce that Ridgemont Iron Ore Corp. (TSX-V:RDG) ("Ridgemont"), formerly Ridgemont Capital Corp., has closed its qualifying transaction (the "Transaction") that was announced in a news release on July 28, 2010.
The Transaction was completed through an option agreement (the "Option Agreement"), dated July 27, 2010, with Logan pursuant to which Logan granted Ridgemont an option to acquire a minimum of 50% (the "First Option") and a maximum of 75% (the "Second Option") of its interest in the Redford property (the "Redford Property"). The Redford Property is comprised of 26 claims covering 10,821 hectares and is located 22 kilometres northeast of Ucluelet, in the Alberni Mining Division, Vancouver Island, British Columbia.
To exercise the First Option, thereby earning a 50% interest in and to the Redford Property, Ridgemont is required to:
(a) pay to Logan total cash payments of $225,000, comprised of: (i) a $25,000 deposit, which amount has been paid; (ii) $50,000 on the closing of the Transaction (the "Closing"), which amount has been paid; and (iii) $50,000 on or before each of the next three anniversaries of the Closing;
(b) incur no less than $3,000,000 in Work Costs (as defined in the Option Agreement), as follows: (i) $750,000 on or before the first anniversary of the Closing; (ii) $1,000,000 on or before the second anniversary of the Closing; and (iii) $1,250,000 on or before the third anniversary of the Closing; and
(c) issue 100,000 common shares of Ridgemont (each, a "Share") to Logan on or prior to each of the first, second, and third anniversaries of the Closing.
Upon exercising the First Option, Ridgemont may exercise the Second Option, thereby earning an additional 25% interest in and to the Property, by completing certain obligations as set out in the Option Agreement and as more fully described in Ridgemont's Filing Statement.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The Company has a diversified portfolio of precious metal, base metal and uranium projects. 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"
For further information:
Seamus Young, President & CEO,
[email protected],
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.