GeoNovus Acquires Mink Lake Claims, Ontario; Stock Dives 17%


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GeoNovus Minerals Corp. (GNM.V) has acquired the Mink Lake property located in Chabanel Township, Sault Ste Marie Mining Division, Ontario. This initial acquisition consists of two claim units (23 hectares) located approximately five kilometers northeast of the town of Wawa.

To acquire these two claims GeoNovus will issue 100,000 shares of the company plus grant a 2% NSR to the vendors, of which the company can purchase back 1% for $1 million.

GNM has dropped 17% to 5 cents, slightly above 52-week low $0.035.

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This article appears in: Investing , Commodities

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