Mar 18 2015
PAPUAN PRECIOUS METALS CORP. (the "Company") is pleased to announce that it will advance US$100,000 as a deposit on an agreement to form a joint venture with Singapore based Juniper Capital Partners to acquire a 50% interest in a large Iron Ore project.
The Company intends to advance up to US$375,000 to the joint venture to acquire the interest in the project. The project is located outside of North America and significant exploration has been previously undertaken on the project. The Company will provide an updated news release upon completion of an initial agreement.
FINANCING
The Company intends to undertake a $CDN 500,000 private placement financing, which may be partially brokered and partially non-brokered, at C$.05 per share. Finder's fees of 7% payable in cash or shares may be paid upon closing.
ON BEHALF OF THE BOARD
Dev Randhawa, CEO
Source http://www.ppmpng.com/