LITERATURE REVIEW — NEWS ROUNDUP — Black Pearl expands near Timmins

Black Pearl Minerals (BLKP-C) has struck a deal with Pentland Firth Ventures (pfo-t) to acquire a half interest in three claim blocks in Tully Twp., near Timmins, Ont.

For its interest, Black Pearl, over four years, must issue 200,000 shares, pay $150,000 and spend $200,000 on exploration on the claim blocks, which host 14 mineral claims.

In addition, the company can acquire a 60% interest in another 21 mining claims in Ontario’s Kenora mining district for $500,000. Those claims are contiguous with 33 previously optioned claims on Shoal Lake. The company has also reached an agreement with Barrick Gold to acquire that company’s 5% royalty on the entire 54-claim block for $350,000.

To fund its acquisitions, the company will issue 1.8 million shares at 50 cents each, for proceeds of $900,000. Each unit will consist of a share and half a warrant. A full warrant will enable the holder to buy one share at 60 cents for 18 months.

The company has 31 million shares outstanding, but will have 33 million upon completion of the private placement.