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Dauntless Capital Corp. Announces Closing of Qualifying Transaction

  //business-finance.news-articles.net/content/201 .. announces-closing-of-qualifying-transaction.html
  Published in Business and Finance on Tuesday, August 31st 2010 at 6:40 GMT by Market Wire
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 (a) on or before five business days following the first anniversary of August 18, 2010 (the "Subject Removal Date") and on or before the second anniversary of the Subject Removal Date: (i) the sum of CDN $500,000, in cash, and (ii) either (at the election of the Company) (A) an additional sum of CDN$500,000, in cash, (B) that number of common shares as is calculated by dividing $500,000 by the product of (1) the VWAP (as defined in the Filing Statement) and (2) the difference between 100% and the Applicable Discount (as defined in the Filing Statement), or (C) some combination of (A) and (B); and (b) on or before each of the third and fourth anniversaries of the Subject Removal Date, either (at the election of the Company): (A) an additional sum of CDN$500,000, in cash, (B) that number of common shares as is calculated by dividing CDN$500,000 by the product of (1) the VWAP and (2) the difference between 100% and the Applicable Discount, or (C) some combination of (A) and (B). 

 - Acquisition of uranium projects with established resources in stable mining jurisdictions such as the United States and Canada; - Conducting geological and engineering work likely to expand resources, upgrade resources to reserves and improve recoverability; - Advancing existing resources into and through the permitting process to accelerate the potential uranium production timeline; and - Selling or partnering projects when they reach the production stage, to limit risk and share dilution.