Dominion Lending Centres Clearlease Reports Elgin Mining (TSXV:ELG) to acquire gold properties in Nunavut in cash, stock deal

Dominion Lending Centres Clearlease Reports Elgin Mining (TSXV:ELG) to acquire gold properties in Nunavut in cash, stock deal

VANCOUVER, BC – (May 9, 2011) Clearlease Reports Elgin Mining Inc. (TSXV:ELG) announced Monday that it has a definitive agreement to indirectly acquire the Lupin Gold mine and the Ulu gold deposit in Nunavut for $4.8 million in cash and 1.8 million common shares.

Under terms of the deal, Toronto-based Elgin will acquire privately owned Bonito Capital Corp., immediately upon which Bonito will acquire the Lupin mine and Ulu deposit and related assets from MMG Resources Inc. on an “as is, where is” basis.

The purchase price payable to MMG is $4.8 million in cash, including a $350,000 deposit previously paid by Bonito to MMG for exclusivity, along with 1.8 million common shares of Elgin.

MMG has agreed, subject to certain exceptions, not to dispose of the shares for 12 months following closing, expected by June 30.

Bonito will also be required to replace the current MMG reclamation bonds — estimated to be $27.2 million — with the Government of Canada.

Stock in Elgin Mining was down five cents at $1.75 Monday afternoon on the TSX Venture market.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Elgin Mining (TSXV:ELG) to acquire gold properties in Nunavut in cash, stock deal

VANCOUVER, BC – (May 9, 2011) Clearlease Reports Elgin Mining Inc. (TSXV:ELG) announced Monday that it has a definitive agreement to indirectly acquire the Lupin Gold mine and the Ulu gold deposit in Nunavut for $4.8 million in cash and 1.8 million common shares.

Under terms of the deal, Toronto-based Elgin will acquire privately owned Bonito Capital Corp., immediately upon which Bonito will acquire the Lupin mine and Ulu deposit and related assets from MMG Resources Inc. on an “as is, where is” basis.

The purchase price payable to MMG is $4.8 million in cash, including a $350,000 deposit previously paid by Bonito to MMG for exclusivity, along with 1.8 million common shares of Elgin.

MMG has agreed, subject to certain exceptions, not to dispose of the shares for 12 months following closing, expected by June 30.

Bonito will also be required to replace the current MMG reclamation bonds — estimated to be $27.2 million — with the Government of Canada.

Stock in Elgin Mining was down five cents at $1.75 Monday afternoon on the TSX Venture market.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Elgin Mining (TSXV:ELG) to acquire gold properties in Nunavut in cash, stock deal

VANCOUVER, BC – (May 9, 2011) Clearlease Reports Elgin Mining Inc. (TSXV:ELG) announced Monday that it has a definitive agreement to indirectly acquire the Lupin Gold mine and the Ulu gold deposit in Nunavut for $4.8 million in cash and 1.8 million common shares.

Under terms of the deal, Toronto-based Elgin will acquire privately owned Bonito Capital Corp., immediately upon which Bonito will acquire the Lupin mine and Ulu deposit and related assets from MMG Resources Inc. on an “as is, where is” basis.

The purchase price payable to MMG is $4.8 million in cash, including a $350,000 deposit previously paid by Bonito to MMG for exclusivity, along with 1.8 million common shares of Elgin.

MMG has agreed, subject to certain exceptions, not to dispose of the shares for 12 months following closing, expected by June 30.

Bonito will also be required to replace the current MMG reclamation bonds — estimated to be $27.2 million — with the Government of Canada.

Stock in Elgin Mining was down five cents at $1.75 Monday afternoon on the TSX Venture market.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk



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