Carlaw Capital III Corp. Announces Qualifying Transaction

TORONTO, ONTARIO, Aug 15 – Carlaw Capital III Corp. announced it had entered into a definitive acquisition agreement with JAB Resources Limited, an Australian private corporation, and Robert Murdoch, an officer and director of JAB, so that Carlaw will acquire JAB.
JAB Resources, through its wholly owned local subsidiary, JAB RESOURCES SH PK, holds five exploration concessions in Albania. The concessions are prospectives for chromite, platinum, gold, copper and nickel. JAB is currently undertaking drilling at its concessions, prior to a program of geological mapping, old data compilation and trench channel sampling. JAB’s initial focus is the fast tracking of chromite mining within Exploration Concession 1125 Kalimash, located in northeastern Albania. JAB has identified two target areas where drilling is now in progress to define an open cut chromite resource. Chromite is an essential component in stainless steel and the outlook for chromite over the next few years is that the metal will be in short supply. Albania is emerging from decades of communist rule and, with the assistance of various international agencies, economic reform is underway. However, JAB management is aware of the ongoing political and economic risks of doing business in Albania. (Tirana Times Staff)