“Vendor”) and has closed this transaction. Pursuant to the terms and conditions of the Asset Purchase
99 CAPITAL CORPORATION Suite 1000, 1177 West Hastings Street Vancouver, BC V6E 3K3 Tel: (604) 681-0204 Fax: (604) 681-9428
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NEWS RELEASE
June 16, 2010 Trading Symbol: WDG – (TSX.V)
Vancouver, British Columbia. 99 Capital Corporation (the “Company”) announces that further to its News Release dated April 23, 2010, the Company has received TSX Venture Exchange (“Exchange”) approval in regards to the Asset Purchase Agreement, as amended, with Mhakari Gold Corp. (the “Vendor”) and has closed this transaction. Pursuant to the terms and conditions of the Asset Purchase Agreement, the Company has the right to purchase an 80% interest in the Shaw Property located in the Province of Ontario by making a cash payment of $30,000 (paid) and issuing 750,000 common shares of the Company (issued), and by incurring exploration expenditures of at least $1,000,000. Additionally, the Vendor shall receive a 2.5% NSR royalty, of which 1% NSR royalty may be purchased by the Company upon the payment of $1,000,000 to the Vendor. Furthermore, the Company is obliged to, under certain terms and conditions, issue to the Vendor a maximum number of 900,000 Bonus Shares. All the shares issued pursuant to this transaction are subject to a hold period expiring October 8, 2010.
In addition, the Company has received Exchange approval in regards to the Asset Purchase Agreement which the Company has entered into with several parties (collectively referred to as the “Vendors”) in respect to the Shaw Extension Property consisting of 42 claim units which are located in the Shaw Township of Ontario. Pursuant to the terms and conditions of the Asset Purchase Agreement, the Company has acquired a 100% interest in the Shaw Extension Property and has made cash payments totaling $15,000 and has issued an aggregate of 400,000 common shares of the Company to the Vendors. Additionally, the Vendors shall receive a 2.5% NSR royalty, of which 1.25% NSR royalty may be purchased by the Company at anytime upon the payment of $1,250,000 to the Vendors. Furthermore, the Company is obliged to, under certain terms and conditions, issue to the Vendors a maximum number of 900,000 Bonus Shares. All the shares issued pursuant to this transaction are subject to a hold period expiring October 12, 2010.
For further information, please contact Jake H. Kalpakian, President at 604-681-0204 ext. 6105.
On behalf of the Board of 99 Capital Corporation,
“Bedo H. Kalpakian”
Bedo H. Kalpakian, Chairman & CFO
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 news release.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this news release containing words such as "believes,” "plans," "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.