Hot Web Inc. announced that the Company has entered into an option agreement with Sarissa Resources, Inc. to earn up to a 50% interest in the Claims located in the townships of Asquith and Churchill in the Province of Ontario, generally known as the “Shining Tree Property”. The 50% “earn-in” interest will require Hot Web to fund expenditures to begin exploring and drilling the property. Sarissa Resources will retain a 50% interest in the property and will act as property operator.
Jason Cooper, Interim CEO of Hot Web, Inc., commented, “We are very excited about taking our first step into mineral exploration alongside Sarissa. I have seen first hand the abilities, credibility and resources that Sarissa and its President Scott Keevil has in the world of exploration.”
Cooper further stated, “Most mining companies have more projects than they can fund or handle, from an operations standpoint, at any one time. This creates a tremendous opportunity for us to partner with these companies to bring those ”back burner” projects to the front of the line. I will continue to work with current and past clients of Presage to capitalize on such projects.”
As part of this new direction, the Company will shortly be affecting a name change and the current slate of directors will be resigning and a new group nominated.