BE Resources Terminates Intended Joint Venture with Cunningham Energy and Re-Acquires an Interest in the LaFlamme Graphite Property in Quebec
TORONTO, ONTARIO--(Marketwired - Sep 2, 2016) - BE Resources Inc. (TSX VENTURE:BER) ("BE" or the "Company") announces that it is refocussing its efforts on mineral properties relating to battery technology, and is looking to acquire properties with graphite and lithium mineralization. Accordingly, on September 1, 2016 the Company terminated its intended joint venture to acquire oil leases and oil fields in West Virginia with Cunningham Energy, LLC.
The Company announces that it, through its 100% owned Canadian Subsidiary, 8716650 Canada Limited, has re-acquired an interest in the LaFlamme Graphite Property located in Bernetz Township in the Abitibi area of Quebec. BE originally held an option interest in this property, as announced by news release dated January 22, 2014. That option was allowed to lapse; however, the Company has now acquired a 100% interest in the same 12 mining claims comprising the LaFlamme Graphite Property.
The Company intends to make filings with the Exchange in accordance with Exchange policies in connection with the reinstatement of trading of the Company's shares. Trading in the Company's shares will be reinstated upon receipt by the Exchange of what the Exchange determines is satisfactory documentation to effect a resumption of trading.
Neither 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.
Contact
BE Resources Inc.
Carmelo Marrelli
Chief Financial Officer
(416) 704-3256
info@beresources.ca