Karbonate Minerals Corp. Confirm Agreement to Acquire 100% Stake in Quebec-Based Mining Company

Karbonate Minerals Corp. have recently announced they have agreed to acquire a 100% stake in a Quebec-based Mining company, whose name will be disclosed upon final completion of the acquisition.

The terms of the acquisition were agreed by both companies on March 4 but it was decided to delay the announcement until all shareholders and investors of the Quebec-based mining company had been informed.

The acquisition by Karbonate will strengthen further their position in the area as one of the pre-eminent mining companies.

"Although the mining company recently acquired were not known as one of the 'main players' in the area they were, nonetheless, a key acquisition for us. Their team are regarded as one of the most knowledgeable in the area and it is this type of local knowledge and experience we are striving to acquire at all our locations," said Malcolm Barnes, Chief Financial Officer with Karbonate Minerals Corp.

"I am looking forward to fully integrating their team with ours and with their knowledge and our technological advantage we will very quickly become one of, if not the best, operation in the area," Malcolm Barnes added.

As part of the acquisition agreement, the acquired company will retain their independent trading status until December 31 and will be incorporated within Karbonate Minerals Corp. in the new year.

"The entire team and I consider ourselves privileged to now be part of the Redleaf organization and under their extensive mining umbrella," said a representative of the acquired mining company.

"We also look forward to forming a team of individuals who, with Karbonate's undoubted resources, will quickly establish themselves as a force to be reckoned with," the representative added.

Neither company were prepared to disclosure the exact details involving the acquisition, only to comment that 'both parties were satisfied with the arrangement."