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New York, NY -- (SBWIRE) -- 09/05/2013 -- Balmoral Resources Ltd. (OTCMKTS:BALMF) today reported that it has outlined a large, ovoid shaped, chargeability anomaly extending for over 1,800 metres in a NW-SE direction on its wholly owned Martiniere Property in Quebec Known gold mineralized zones on the property, including the Bug Lake Gold Zones and the numerous high-grade intercepts in the Martiniere East area, are associated with, or flank, this large anomaly. The majority of the newly defined anomaly remains to be drill tested, suggesting potential for a significant expansion of the mineralized system in the Martiniere East/Bug Lake area.
Chargeability anomalies such as the one discussed above are typically associated with either disseminated or semi-massive sulphide mineralization. Throughout the Martiniere Property there is a strong correlation between gold mineralization and sulphide minerals.
Shares of Balmoral Resources Ltd (OTC: BALMF) are trading at $0.5186 and is +5.99% of its 50-day Moving Average price of $0.4893 and -4.85% from its 200-day Moving Average price of $0.545. The average trading volume is 30462 shares and its market capitalization is $44.0M.
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RDX Technologies Corporation (OTCMKTS:RGDEF) is a water treatment and energy technology company. The Company is applying proprietary technology to treat water generated from industrial and commercial waste water markets. These markets include a wide variety of clients across a broad spectrum of industries. The Company trades on the TSX Venture Exchange under the symbol "RDX", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as "RL7".
In summary, the terms of the transaction are as follows; a $ 2,000,000.00 paid on earnest monies with $2,377,693.11 in cash at closing to the Vendor and to pay down Vendor debt, and additional assumption of Vendor debt off and the immediate assumption by RCI of $ 2,565,891 in vendor debt and overhead costs by RCI for a total price of $6,943,584.11. A discount of $500,000 was made for the cash payment of the $2,500,000 note to be issued which reduce the net price from what would have been without discount $7,443,584.11
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