Blue Note Mining Inc. cancelled the acquisition of 71% stake in Matchi-Manitou property from First Gold Exploration, Inc..
As of December 24, 2010, the term of non-binding agreement for Croinor gold project which includes 71% stake in Matchi-Manitou property was extended. As of March 29, 2011, the terms of the agreement were extended, Blue Note has already made cash payments totaling CAD 0.125 million to Critical Elements and, in consideration of an additional payment of CAD 0.01 million, Blue Note now has until May 31, 2011, or such other later date as mutually agreed by Blue Note and Critical Elements, to make a final payment to complete the transaction.
As of June 1, 2011, the terms of the agreement were extended till December 31, 2011 or such later date as mutually agreed by Blue Note and Critical Elements to make the final payment.
As on April 12, 2012, the terms of the agreement were extended till May 31, 2012 or such later date as mutually agreed by Blue Note and Critical Elements to make the final payment.
Blue Note Mining Inc. (TSXV:BNT) cancelled the acquisition of 71% stake in Matchi-Manitou property from First Gold Exploration, Inc. (TSXV:EFG) on November 30, 2012.