20:49:06 EDT Fri 23 Aug 2019
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or Name
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Berkwood Resources Ltd (3)
Symbol C : BKR
Shares Issued 49,870,626
Close 2018-12-31 C$ 0.07
Recent Sedar Documents

Berkwood, Intact Gold enter Lac Gueret finance deal

2018-12-31 16:21 ET - News Release

Also News Release (C-ITG) Intact Gold Corp (2)

Mr. Thomas Yingling of Berkwood reports

BERKWOOD CONCLUDES $125,000 PROJECT FINANCE AGREEMENT WITH INTACT GOLD CORP. TO ADVANCE THE LAC GUERET SOUTH GRAPHITE PROJECT

Berkwood Resources Ltd. has concluded an agreement to finance with Intact Gold Corp. The terms of the agreement allow Intact to earn a 2.5-per-cent interest to the Lac Gueret South graphite property in exchange for expenditure of $125,000 on the project by Dec. 31, 2018. During a period of six months, either party will have the right to execute a buyback scenario, in which Berkwood would purchase the 2.5 per cent back by paying to Intact 875,000 units in Berkwood. Each unit will entitle Intact to receive one share and one-half warrant of the company. This transaction is subject to exchange approval.

Tom Yingling, president and chief executive officer, stated: "I am very pleased to have Intact partnered with our near-term advancement of our Lac Gueret South discovery. We are determined to advance the project toward a preliminary economic assessment as soon as is practical, and we are thrilled to have the financial support and technical endorsement of Intact as we prepare to drive the project forward."

About Berkwood Resources Ltd.

Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

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