Advanced Explorations Extends Roche Bay Royalty Buy-Out Terms

Advanced Explorations Inc. (CVE:AXI) reports negotiations with Roche Bay plc. (PINK:RCHBF) related to its right to buy out the royalty retained by Roche Bay on AEI’s Roche Bay and Tuktu Projects.

The press release is quoted as saying:

In good faith, the parties have agreed to extend the deadline to conclude an amendment to their Royalty Agreement (as press released on April 1st and July 20th, 2009) and allow each other additional time to finalize the necessary reviews and approvals to proposed amendments. The deadline has been changed from March 15, 2011 to April 1st, 2011. Any amendments, including this extension, remain subject to TSX Venture Exchange approval.

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