Al's Insights – Wed 24 Aug, 2016

Big Al joins the Board of Directors after investing in Vanity Capital

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VANITY SIGNS OPTION AGREEMENT WITH IAMGOLD CORPORATION TO PURCHASE THE PORCUPINE EAST BLOCK

Vancouver, British Columbia, August 18, 2016 – Vanity Capital Inc. (TSX Venture: VYC) (“Vanity“) announces it has entered into an option agreement with IAMGOLD Corporation (“IAMGOLD”) providing for an option to acquire a 100% interest in IAMGOLD’s Porcupine Property in the Duparquet Township area of Quebec (the “Option”).

The Option is exercisable by Vanity spending a minimum of one-million five hundred thousand ($1,500,000) on exploration expenditures, which is to include the completion of a minimum 5,000 metres of diamond drilling on the property, within twenty-four (24) months of the Option. The Option is also subject to Vanity entering into an agreement to acquire an interest in an adjacent property.  Upon Vanity vesting its interest, IAMGOLD would retain a 2% net smelter royalty.

The Option also provides Vanity with the right to renegotiate a pre-existing net smelter royalty of 3% held by certain third parties.

The Option is subject to Vanity obtaining the approval of the TSX Venture Exchange.

IAMGOLD is an arms-length party to Vanity.

Vanity has agreed to pay a cash finder’s fee to Loewen, Ondaatje, McCutcheon Limited in connection with the Option. $5,000 is to be paid on approval of the TSX Venture Exchange and an additional $10,000 on Vanity completing its required exploration expenditures under the Option.

The Porcupine Property consists of ten (10) contiguous patented claims covering approximately 153 hectares located in the Duparquet Township area of Quebec.

Vanity plans to immediately undertake an initial exploratory drill campaign, on receipt of TSX Venture Exchange approval of the Option.

ABOUT VANITY CAPITAL INC.

Vanity is a Vancouver junior exploration company. It is Vanity’s intent to advance the Porcupine Property as quickly as possible.  Vanity is reviewing other potential property acquisitions and opportunities with a specific focus on mineral properties in Quebec.

ABOUT IAMGOLD

IAMGOLD is a mid-tier mining company with four operating gold mines on three continents. A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities.  IAMGOLD is in a strong financial position with extensive management and operational expertise.

CONTACT

For further information, contact Mr. Harry Miller, CEO at:

Telephone: (425) 453-0355

Some statements contained in this news release are forward-looking statements.  These statements generally are identified by words such as the Company “believes”, “expects”, and similar language, or convey estimates and statements that describe the Company’s future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.  The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws. References may be made in press releases to historic mineral resource estimates. None of these are NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Vanity does not treat them as current mineral resources.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release


Featuring:
Al Korelin

Comments:
  1. On August 24, 2016 at 2:40 pm,
    Excelsior says:

    Good luck with the new venture Big Al.

  2. On August 24, 2016 at 3:21 pm,
    Tad says:

    Big congratulations Big Al!

  3. On August 24, 2016 at 3:41 pm,
    CFS says:

    Will Vanity have to raise funding soon?

    Are there any known resources on the Porcupine property?

    I realize it is a promising location for discoveries, but how close are neighboring mines in either direction along the trend?

  4. On August 24, 2016 at 5:35 pm,
    Ebolan says:

    Dang, Vanity up 50% today on the news!

    I always knew you are a bigwig, Mr. Big Al Korelin. Congratulations.

    • On August 24, 2016 at 5:36 pm,
      Ebolan says:

      From bloomberg now

      Vanity Capital Inc
      VYC:CN
      Venture
      0.75
      CAD
      0.25
      50.00%

    • On August 24, 2016 at 7:26 pm,
      LPG says:

      Ebolan,
      Hope all’s well.
      Double check the data – esp. the date for the move. It ain’t today.
      Best to you,
      LPG

      • On August 24, 2016 at 10:08 pm,
        Ebolan says:

        Well, nevertheless the price increase is justified because the market knows no one works harder, knows more or is smarter than Mr. Big Al Korelin.

        To put it succinctly, the prettiest baby in the nursery! 🙂

        Hope all is well with you, Mr. LPG.

        • On August 24, 2016 at 11:25 pm,
          Ebolan says:


          To put it succinctly, the prettiest baby in the nursery! 🙂

          For lack of better terms. 🙂 🙂 😮

      • On August 24, 2016 at 10:21 pm,
        Ebolan says:

        Mr. LPG, I am sorry for the misinformation. It appears I was bringing up a cached page and that explains the discrepancy.

        However, I am more than certain that the price increase was in anticipation of the news regarding Mr. Big Al Korelin. No doubt about it.

        • On August 25, 2016 at 5:35 pm,
          LPG says:

          Ebolan,
          No worries about “misinformation”. You didn’t mean it: it’s all good.
          I’m well over here, so I hope the same for you.
          Best to you,
          LPG

  5. On August 24, 2016 at 6:25 pm,
    Chartster says:

    Congrats Al!! Always good to see people win.

  6. On August 24, 2016 at 9:44 pm,
    CFS says:
    • On August 24, 2016 at 10:02 pm,
      Excelsior says:

      Yes, but will the self-driving taxis yell at other drivers over loud annoying music, take personal phone calls while you sitting in the back seat, and still screw your wallet by taking the long route?

      Those are things I’ll miss…..

      • On August 25, 2016 at 5:04 am,
        irishtony says:

        EX….Those photos you posted above are they the staff at Vanity ?
        WOW-WOW-WOW…..NO wonder the old codger took the job……LOL
        Hi Big Fella…CONGTATS…..X

        • On August 25, 2016 at 5:05 am,
          irishtony says:

          congRats

        • On August 25, 2016 at 6:45 am,
          Excelsior says:

          The Big Owl will spread his wings and embrace it the best he can 🙂

  7. On August 25, 2016 at 5:48 am,
    CFS says:

    Strange, but true……’
    A local judge for a village near Nice, France has banned the wearing of bikinis by women. (Claiming that it would be justification to provoke islamic terrorist attacks)

    I wonder what Ms. Bardot thinks ; yesterday being the 81st anniversary of her
    birthday.
    Just a few decades ago, I remember when wearing anything at all was optional on a beach; how things change.

  8. On August 25, 2016 at 8:16 am,
    Bonzo Barzini says:

    Ms. Bardot is furious. She is a French patriot and hates Islam.

  9. On August 30, 2016 at 1:20 am,
    Sylvia says:

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