Cash Minerals Buys Mike Lake Property, Four Others From Dynamite Resources

Both companies have announced that the Mike Lake property, in the Yukon, is being bought by Cash Minerals, Ltd. from Dynamite Resources, Ltd. The property comprises 319 claims. Also being bought are four 100%-indirectly-owned Kyrgyz properties. The payment is structured like a private placement: in exchange for the properties, Cash Minerals will issue 22,750,000 shares and 11,375,000 warrants. The warrants have an exercise price of 10 cents and are good for two years. As noted in the news release, this deal has yet to receive regulatory approval.

Cash Minerals has yet to trade so far. It last traded yesterday, closing at 4.5 cents for a drop of a penny on moderate volume. Its bid-ask is 5 cents - 5.5 cents. Dynamite hasn't traded either; it too traded yesterday, closing at 15 cents for a gain of a penny on heavy volume. Its bid - ask is 14 - 14.5.

Cash's Google Finance web page is here; Dynamite's is here.

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