09:52 AM EST - Quartz Mountain Resources Ltd. : Has reached agreements with Bearclaw Capital Corp., the holder of its convertible debenture, and Hunter Dickinson Services Inc. to which it owes payment for services. Bearclaw will forgive a convertible debenture with current amount owing of $500,000 plus interest of $1,438 if Quartz Mountain makes a cash payment of $29,793 to Bearclaw; issues two million shares to Bearclaw; and transfers the Gnat Property (three claims, totaling 1,294.3 hectares), which was acquired from Bearclaw in exchange for the convertible debenture back to Bearclaw at no cost. The Gnat Property remains in good standing until August 2016. Quartz Mountain Resources Ltd.
shares V.QZM are trading unchanged at $0.01.
