Clarity Metals Corp. press release
Alto Closes Private Placement and Sale of the Windfall East Project
CSE - Canadian National Stock Exchange · Gold · Silver · Zinc · Copper · Molybdenum · Arsenic · Tungsten · Lithium · Nickel · Canada
Vancouver, British Columbia--(Newsfile Corp. - June 7, 2017) - Alto Ventures Ltd. (TSXV: ATV) ("Alto") is pleased to announce it has completed the sale of a 100% interest in the 299 hectare Windfall East project to Beaufield Resources Inc. ("Beaufield"), adjacent to Osisko's Windfall deposit and on trend from Osisko's new Lynx discovery in Urban-Barry Township, Quebec.
At Closing, Alto received $300,000 and 2,750,000 Beaufield shares. Alto also retains a 1% Net Smelter Return Royalty ("NSR") on the property with a buyback provision for 0.5% of the NSR by Beaufield for $1 million. Concurrently with this acquisition, Beaufield subscribed for 2,916,667 shares of Alto at a price of $0.12 per share for proceeds of $350,000 (the "Private Placement Shares"). The Private Placement Shares are subject to a four month hold period expiring October 2, 2017.
About Alto Ventures:
Alto Ventures Ltd. is an exploration and development company with a portfolio of 100% owned Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P. Geo., CEO
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.
For further information contact:
Mike Koziol, President and Director ALTO VENTURES LTD. Unit 7 — 1351C Kelly Lake Rd Sudbury, ON., P3E 5P5 Tel: 705-522-6372 Email:koziol@altoventures.com
Rick Mazur, CEO and Director ALTO VENTURES LTD. Suite 615-800 W. Pender Street Vancouver, BC, V6C 2V6 Tel: 604-689-2599 Email:mazur@altoventures.com
copyright (c) newsfile corp. 2017
Earlier from Clarity Metals Corp.
- Alto Sells 100% Interest in the Windfall East Project, Quebec for Cash, Shares and Private Placement
- Osisko's Lynx Corridor Drilling Interpreted to Trend on to Alto's Windfall East Project, Quebec
- Recent Developments at Osisko Mining's Urban Barry Project Enhance Alto's Windfall East and Destiny Gold Projects, Quebec