Tres-Or Resources (TSXV:TRS; OTC:TRSFF) is turning its interest in the direction of South America by acquiring a Brazilian company with five prospective diamond properties. The Canadian company has purchased all the shares of Vaaldiam from Diamond Hunters Ventures (DHV), a company controlled by Ken Johnson.
Tres-Or will issue approximately 2.3 million shares at a deemed price of $0.05 per share to DHV. This represents a value of $113,600. The shares are subject to a four-month hold. Tres-Or also granted two 1% gross sales royalties on each of the five properties, however Tres-Or has the right to repurchase the royalties for $1.5 million per property.
As a result of the transactions, Johnson will now hold, directly or indirectly, about 16.9% of Tres-Or. Johnson is a diamond geologist responsible for the development of the Braúna diamond mine in Brazil.
The acquisition of Vaaldiam gives Tres-Or access to a specialized team with more than 20 years’ experience in the exploration, evaluation, and development of diamond properties in Brazil, Canada, and Africa.
In Canada, Tres-Or owns four exploration properties – Duvay gold, Notre Dame Du Nord diamond, and Guigues diamond (optioned to Kiboko Gold) in Quebec as well as the Temagami North-Lapointe copper-diamond project in Ontario.
The company’s website is at www.Tres-Or.com.