| December 18, 2009 Brookemont Capital Inc. Announces Entry Into Definitive Agreement To Dispose Of Bantry And Pembina Properties | |
| Vancouver, December 18, 2009 -- Brookemont Capital Inc. ("Brookemont" or the "Company") is pleased to provide an update to its news release dated December 11, 2009. In furtherance to a letter agreement entered into with a private corporation headquartered in Calgary, Alberta (the "Purchaser"), the Company has now signed the definitive purchase and sale agreement with the Purchaser pursuant to which Brookemont agreed to sell all of Brookemont's interest in and to certain assets in connection with the Bantry and Pembina properties, including PNG rights, tangibles and wells (the "Assets"), in consideration for the payment of $575,000. The transaction remains subject to approval of the TSX Venture Exchange (the "Exchange"). About the Assets The Assets consist of petroleum and natural gas rights, tangible assets and miscellaneous interests in connection with the Bantry and Pembina properties. The Bantry property is located 60 miles northwest of Medicine Hat, Alberta and the Pembina property is located 50 miles southwest of Edmonton, Alberta. For a current evaluation of the Assets, please refer to the Audited Annual Financial Statements filed by Brookemont on November 30, 2009 on SEDAR (www.sedar.com). Following the completion of the proposed disposition of the Assets, Brookemont intends to focus on its interests in the mineral claims prospective lithium in Northern Ontario, quartz mineral claims on Yukon, and the mineral claim blocks in the Stewart Mining Region of British Columbia. If you would like to be added to Brookemont's news distribution list, please send your email address to info@brookemontcapital.com ontact Information Tel: (604) 899-9150 info@brookemontcapital.com www.brookemontcapital.com "Conrad Clemiss" Director and President Brookemont Capital Inc. Legal Notice Regarding Forward Looking Statements This news release may contain "forward looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements in this news release include that Brookemont intends to focus its interest in the mineral claims prospective lithium in Northern Ontario, quartz mineral claims in Yukon, and the mineral claim blocks in the Stewart Mining Region of British Columbia. This statement is subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statement. Risks that may prevent or delay the forward looking statements from coming to fruition include the risk that: (i) Exchange approval may not be granted or may not be granted in a timely manner; and (ii) the transaction may ultimately not be completed due to a termination of the definitive agreement in accordance with its terms. It is our policy not to update forward looking statements. Neither the TSXV Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. | |
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