11:39 AM EST - Cangold Ltd. : has acquired the 49-per-cent interest in the Argosy Gold Mine in the Red Lake Mining Division of Ontario owned by its joint-venture partner, Premier Gold Mines. The acquisition of Premier's interest gives Cangold a 100-per-cent interest in this past producing gold mine, subject to a 2.5-per-cent NSR. Terms of the acquisition call for Cangold to issue to Premier a total of two million shares of Cangold at a deemed price of $0.10 and a cash payment of $10,000. Premier will retain a 0.5-per-cent NSR, which can be purchased for $500,000. An underlying two-per-cent NSR will remain in force. Cangold Ltd.
shares V.CLD are trading up $0.005 at $0.05.
