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Provider: Reuters Investment Profile

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Precipitate Gold Corp Closes Dominican Republic Acquisition

Friday, 9 Nov 2012 05:00pm EST 

Precipitate Gold Corp announced that, further to its news releases of August 16, 2012 and September 24, 2012, it has closed the acquisition of 100% of the issued capital of 0945044 BC Ltd. a private company that owns a 100% interest in the Juan de Hererra and Higos Blancos gold exploration concession applications in the Dominican Republic through its wholly-owned subsidiary. The Company has received confirmation of all corporate and property registrations in the Dominican Republic and TSX Venture Exchange approval. Based thereon, Precipitate has paid $60,000 to purchase the shares of 0945044 BC Ltd. and will earn the right to retain the shares of 0945044 BC Ltd. by paying staged share and cash payments and completing work commitments on the concessions over a three year period starting on the date the concessions are granted, with any exploration expenditures made during the application period being credited against its obligations. 

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