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Vela Minerals Options Mavis Bank, Jamaica Gold Copper Project

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Vela Minerals Ltd. (VLA.V) has entered into an option agreement to acquire Mavis Bank, a 63 square kilometer special exclusive prospecting license in Jamaica.

The agreement allows the company to acquire a 90% interest in the Mavis Bank under the following conditions: cash payments of (i) $40,000 upon signing, (ii) $60,000 upon the first anniversary, (iii) $100,000 upon the second anniversary, along with a work commitment of $500,000 to be completed before the second anniversary date.

VLA is unchanged at $0.145.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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