Lac Dore Mining, Inc. Claims Sold to Canadian Company
Lac Dore Mining, Inc., a wholly owned Subsidiary of McKenzie Bay International, Ltd. , has sold its mining claim to 6945295 Canada, Inc., a Canadian corporation.
Consideration for the mining claims consisted of 2,000,000 shares of 6945295 Canada, Inc., a 1% net smelter royalty to a maximum of CDN $4 million and the assumption of material secured liabilities, liens and indebtedness of Lac Dore Mining, Inc.
Lac Dore Mining, Inc. cannot determine the value, if any, of the shares or royalty.
