Toronto, Ontario (FSCwire) - CNRP Mining Inc (CSE: CND) ("CNRP" or "the Company") announces that, Daniel Wettreich a director and CEO of CNRP, has signed a Letter of Intent ("LOI") to sell the majority of his shareholdings in CNRP.

The LOI defines the essential terms under which the parties intend to enter into a definitive agreement (the "Share Acquisition Agreement") for the acquisition by Ken Ralfs and a number of independent investors(collectively "Purchasers"), from Sammiri Capital Inc, a private company owned by Daniel Wettreich,("Wettreich") the total amount of 8,430,000 common shares (the "Shares') of CNRP representing 60% of the issued and outstanding share capital of CNRP, for the payment of CAD$100,000 at a deemed price of CAD$0.0119 per share. Further, Purchasers' will, at closing, enter into a loan agreement with CNRP ("Loan Agreement"), in the amount of CAD$150,000 which amount will be used to repay the outstanding payables and indebtedness of CNRP. In addition, Purchasers have agreed to purchase from Wettreich certain CNRP indebtedness due Wettreich, for the payment of $125,000. Closing of the Share Acquisition Agreement and associated transactions are anticipated to be on or before February 15, 2017, and will be subject to compliance with any required governmental and securities regulations. Ken Ralfs is based in Sidney, BC and holds the office of President and/or director of several resource companies listed on the TSXV. At closing, it is anticipated that CNRP will appoint new directors and officers.

About CNRP Mining

CNRP is a Toronto based mineral company which owns 100% of the Elmtree Gold Project in New Brunswick, Canada. For more information please see www.CNRPmining.com or contact Danny Wettreich at (416) 628 9879 or dw@CNRPmining.com

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of CNRP Mining Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither The Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/CNRP02082017.pdf

Source: CNRP Mining Inc. (CSE:CND)

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