Fidelity Minerals Announces Closing of Las Huaquillas Acquisition
TSX VENTURE: FMN
Vancouver, BC / TheNewswire / February 11th, 2019 - Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC) ("Fidelity Minerals" or the "Company") is pleased to announce that the Transaction to Acquire the core Las Huaquillas Project, as News Released on December 6th, 2018, January 18th, 2019 and January 28th, 2019 has closed.
Per the terms of the transaction, Fidelity Minerals has acquired 44.5% of the Core Las Huaquillas project by the 100% purchase of Lida Resources Inc.'s ("Lida", a British Columbia company) wholly-owned Peruvian subsidiary company, Minera LBJ SAC, for consideration of 25,000,000 Fidelity Minerals shares and 12,500,000 warrants ($0.08, 5 year term) to the shareholders of Lida.
The acquisition of our interest in the core Las Huaquillas Project and the subsequent staking of adjacent concessions on a 100% basis by Fidelity Minerals, provides the Company with a very significant resource appraisal opportunity which we expect to advance in 2019" said Ian Graham, CEO of the Company.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is an emerging gold producer focusing on unlocking value from advanced stage mining assets in Peru. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value, now anchored by Lions Bay Capital Inc.
On behalf of the Board of Fidelity Minerals.
CEO and Director
For more information, please visit the corporate website at http://www.fidelityminerals.com or contact:
Luis F. Zapata
Tel: +51.999.968.827 (Peru)
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