Encore Renaissance News Releases |
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September 15, 2009
ENCORE CLOSES 0854511 BC ACQUISITION
Encore Renaissance Resources Corp. has completed its acquisition of 0854511 B.C. Ltd. pursuant to a share exchange agreement dated Aug. 31, 2009, and amended Sept. 14, 2009. Pursuant to the share exchange, the company issued: 12 million common shares; and promissory notes in the total amount of $125,000 to the shareholders of 0854511 B.C. in exchange for 10,000 common shares of 0854511 B.C., which represents 100 per cent of its issued and outstanding equity. A finder's fee of $30,937.50 and 562,500 shares was paid in connection with the acquisition. Shares issued as part of the finder's fee are subject to a hold period expiring on Jan. 15, 2010.
0854511 B.C. holds 100 quartz claims located in the Yukon and has applied for eight metallic and industrial minerals claims in Alberta which are pending approval by the Alberta Department of Energy.
In other news, Kamal Alawas has resigned from the company.
September 11, 2009
ENCORE SIGNS DEFINITIVE AGREEMENT FOR BC COMPANY
Encore Renaissance Resources Corp., further to its news releases in Stockwatch on Sept. 1, 2009, and Sept. 3, 2009, has entered into a definitive share purchase agreement on the terms as announced and amended for the acquisition of 0854511 B.C. Ltd., the holding company of several Yukon and Alberta mineral claims, and completed its filings with the TSX Venture Exchange.
September 3, 2009
ENCORE RENAISSANCE RESOURCES CORP. AMENDS LETTER AGREEMENT
(VANCOUVER BC; SEPT 3, 2009) ENCORE RENAISSANCE RESOURCES CORP. (TSXV-EZ, FRA-OUH1, USA-ERRCF) Encore Renaissance Resources Corp. (the “company”) is clarifying information set out in the news release that was disseminated in Stockwatch on Sept. 1, 2009, regarding its agreement with 0854511 B.C. Ltd. The company wishes to clarify that the agreement is a non-binding letter agreement and, as of Sept. 3, 2009, has been amended to reduce the total amount of promissory notes issuable on the closing of the agreement from $250,000 to $125,000. All other terms remain the same.
On behalf of the Board of Directors
“Michael Mulberry”
Michael Mulberry
President and Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.
September 1, 2009
ENCORE RENAISSANCE TO ACQUIRE PRIVATE BC COMPANY
Encore Renaissance Resources Corp. has entered into a letter agreement dated Sept. 1, 2009, with a private British Columbia numbered company. Under the terms of the letter agreement, the company has agreed to enter into a definitive agreement to purchase all of the issued and outstanding common shares in the capital of the British Columbia numbered company from the shareholders of British Columbia numbered company in consideration for the company issuing 12 million common shares to the shareholders and promissory notes to the shareholders in the amount of $250,000. The promissory notes bear no interest, are due on demand, and carry a term of 18 months. The proposed acquisition will be negotiated and carried out by the parties dealing at arm's length to one another.
Conditions of Closing
The parties have agreed to enter into a definitive agreement on or before Sept. 30, 2009, and have agreed to close the proposed transaction within 10 business days following receipt of exchange approval, or such other date as the parties may agree to in writing. Completion of the proposed acquisition will be subject to certain conditions including:
- Completion of each party's satisfactory due diligence review of the other, including the financial condition, business and properties of each;
- Receipt of all necessary regulatory approvals, including those of the TSX Venture Exchange;
- Completion of applicable financial statements of British Columbia numbered company as required by applicable securities laws;
- The closing of the definitive agreement;
- Business of the British Columbia numbered company.
The British Columbia numbered company is a private company and is engaged in the business of mineral exploration in Alberta and the Yukon. The British Columbia numbered company is the sole legal and beneficial owner of mineral claims prospective for lithium covering an area of approximately 160,000 acres, located in Alberta, and 100 load quartz mineral claims covering an area of approximately 5,200 acres, located in the Yukon. At this time the Alberta claims are still pending, the Yukon claims are active.
Finder
Subject to exchange approval, the company intends to issue the maximum number of common shares as a finder's fee (in accordance with the policies of the exchange) to the finder upon the closing of the definitive agreement in consideration for services provided by the finder with respect to the transaction. The finder is not a non-arm's-length party and such common shares will be issued pursuant to an exemption under applicable securities laws and will subject to a hold period as required by applicable securities laws.
September 1, 2009
ENCORE CLOSES 12.5-MILLION-UNIT FINANCING
Encore Renaissance Resources Corp. has closed a private placement of 12.5 million units at 10 cents, which was announced in Stockwatch on July 17, 2009, July 24, 2009, and Aug. 24, 2009.
Dec. 27, 2009, is the following hold period expiry date in respect of the shares under the units and the shares issued upon exercise of the shares purchase warrants.
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