Gemini Explorations, Inc. is pleased to announce that it has executed the final payment by issuing 1,400,000 restricted common shares in lieu of US$50,000 cash to acquire the Los Chorros Gold Mine, a producing gold property in the El Bagre-Zargoza mining district, department of Antioquia, Colombia.
Gemini has acquired an 80 percent majority controlling interest in the property for the sum of US$50,000 and the issuance of 3,900,000 restricted shares of GXPI. Gemini has first right of refusal to acquire the remaining 20% interest in the mine within 18 months of the Effective Date.
Now that the final payment has been completed, the company is changing the name of this project to La Tapata. Gemini has done this to avoid confusion with other projects in the district that contain "Los Chorros" in their property descriptions.
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