11:49 AM EST - Lara Exploration Ltd. : said it completed an Option Agreement, whereby Redzone Resources Ltd. may earn up to a 75% interest in the company's Lara Copper Porphyry and Tingo Este Copper Projects in the Southern Peruvian Coastal Belt. The company added that Redzone may earn an initial 55% interest in the projects by spending $2.5 million U.S. in exploration and issuing 850,000 common shares of Redzone to Lara over a three-year term. Redzone may then elect to earn an additional 20% interest in the project by completing a bankable feasibility study and making a one-time cash payment to Lara of $1.5 million U.S. on or before January 28, 2015. Lara Exploration Ltd.
shares V.LRA are trading up $0.06 at $0.86.
