Greencastle, through Greencastle's subsidiary Deveron Resources has acquired an additional stake in Boreal Agrominerals, which owns and operates a carbonatite quarry near Sudbury, Ontario. By means of a private placement, Deveron has now increased its interest to 15.5% in Boreal. In connection with the purchase, Greencastle has loaned Deveron $400,000, which bears interest at prime plus two percent (2%) and is due on [...]
Greencastle Resources subsidiary Deveron Resources has reported very encouraging results from a recent exploration program, carried out late in the 2012 field season on Deveron's 100% owned Nechako Property (see Deveron press release dated April 5, 2013). Greencastle holds 7,569,505 Deveron shares or approximately 64% of Deveron's 11,794,505 common shares outstanding.
Greencastle is pleased to provide an update on the activities of both Greencastle and its subsidiary Deveron Resources Ltd. Deveron has completed all required work to earn a 100% interest in the Nechako property, subject to a 2% net smelter return royalty payable to the underlying vendor and a 1% net smelter return royalty payable to Greencastle. Assays are pending on rock, soil and silt samples collected late in 2012.
Greencastle is pleased to announce that Greencastle's gold exploration subsidiary, Deveron Resources has closed its previously announced initial public offering of common shares. A total of 3,000,000 common shares were sold under the Offering for gross proceeds of $750,000. Commenting on the successful Offering, Anthony Roodenburg, Greencastle CEO, stated:
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