Ann: Azure to Acquire Advanced Alacran Copper Project, page-9

usually to give shareholders some hope while they do another CR to secure their yearly income... obviously their last attempt to do a CR was a failure so their trying to refocus shareholders... just my opinion but look at the Key terms..... unless Rio is going to come along and go, here is more money I think holders may start to get a little peaved

Key terms of the Agreement
1. Azure can acquire 100% ownership of Alacrán by: a) Spending US$5 million on the project within 4 years ("Required Expenditure");
b) Issuing 100,000 Azure shares to Teck on signing the formal documentation; and
c) Issuing 400,000 Azure shares to Teck on completing the Required Expenditure.
2. Azure must spend US$2 million within the first 2 years before it can withdraw from the project ("Minimum Expenditure").
3. Teck retains a back-in right to re-acquire a 51% interest by sole funding US$10 million of expenditure, including a US$0.5 million cash reimbursement to Azure.
4. Additionally, Teck may increase its interest to 65% by sole funding a further US$5 million of expenditure, including a US$1.5 million cash reimbursement to Azure.
5. Grupo Mexico, owner of the adjoining Cananea Copper Mine, retains a 2% Net Smelter Royalty over future mineral production from Alacrán.
HISTORY