TVI Pacific Inc. Enters Into Heads of Agreement With Mindoro Resources Ltd.
Calgary-based resource company, TVI Pacific Inc., announced it has entered into a heads of agreement with Mindoro Resources, an Edmonton-based company engaged in mining exploration in the Philippines. TVI has agreed to loan Mindoro C$938,968 pursuant to a secured promissory note. The loan is to be secured by Mindoro’s interests in the Agata South nickel laterite mineral project, located in the Suriago mining region. TVI will purchase 63,115,559 units of Mindoro at a price of $0.05 per unit. It will also have the exclusive option to enter into a joint venture with Mindoro with respect to the Agata Nickel Project and the Pan de Azucar Project. The Pan de Azucar prospect is located near Panay Island, central Philippines.