News Release: 2011-09-21
Otterburn Ventures Inc. Closes Option Agreement with Nortec Minerals Corp.
Vancouver, B.C., September 21, 2011 - OTTERBURN VENTURES INC. (CNSX: OTB) (the "Company" or "Otterburn") is pleased to announce that the Company has successfully closed the option agreement with Nortec Minerals Corp. ("Nortec") announced on August 30, 2011 (the "Option Agreement"). The Company has completed its first option payment to Nortec comprised of a $900,000 cash payment and the issuance of 1,660,408 common shares of the Company.
Pursuant to the terms of the Option Agreement, Otterburn may earn up to an 80% interest in and to certain exploration claims owned by Nortec known as the Läntinen Koillismaa project (the "LK Project"). The LK Project covers a palladium-platinum-gold-copper-nickel mineralized Marginal Series hosted within a sequence of mafic and ultramafic layered intrusions.
About Otterburn Ventures
Otterburn Ventures is currently earning an undivided 80% interest in and to certain exploration claims known as the Lantinen Koillismaa project. The Company is well funded with approximately $3.5 million in cash and approximately 38.4 million shares issued and outstanding.
For more information please visit the Company's website at www.otterburnventures.com.
On behalf of the board of directors of Otterburn Ventures Inc.,
CEO and Director
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
The CNSX does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Otterburn Ventures Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" andsimilar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.