Cavan Amends Terms of Buckingham Property
Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
CAVAN AMENDS TERMS OF BUCKINGHAM PROPERTY
June 11, 2014, VANCOUVER, B.C. – CAVAN VENTURES INC. (TSX-V:CVN) (“Cavan” or the "Company”) announces that it has successfully entered into an amending agreement (the "Amending Agreement") with Ken Smith (the "Vendor") to earn a 100% interest in and to 900 hectares of prospective graphite claims located in Buckingham township, Quebec (the "Property").
Pursuant to an option agreement dated March 30, 2012 (the "Original Agreement"), the company was required to make cash payments totalling $75,000 and issue 1,000,000 common shares in the capital of the Company (the "Shares") over a two year term. Specifically, on or before the two year anniversary of the Approval Date (as defined in the Original Agreement"), the Company was to pay the Vendor $30,000 and issue to the Vendor 400,000 Shares (together, the "Obligations").
Pursuant to the Amending Agreement, instead of paying the Vendor $30,000 and issue to the Vendor 400,000 Shares, the Company shall issue to the Vendor 750,000 Shares in satisfaction of the Obligations.
This transaction is subject to TSX Venture approval.
Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Forward-Looking Statement:
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. 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.