13:26:36 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Beaufield Resources Inc (2)
Symbol BFD
Shares Issued 180,276,519
Close 2017-05-24 C$ 0.235
Market Cap C$ 42,364,982
Recent Sedar Documents

Beaufield Resources acquires Windfall East from Alto

2017-05-24 09:34 ET - News Release

Also News Release (C-ATV) Alto Ventures Ltd (2)

Mr. Ronald Stewart of Beaufield reports

BEAUFIELD RESOURCES ACQUIRES 100% INTEREST IN THE URBAN-WINDFALL SECTOR

Beaufield Resources Inc. has acquired a 100-per-cent interest in the 299-hectare Windfall East project from Alto Ventures Ltd. The property, strategically located, is adjacent to Osisko Mining's Windfall deposit and on trend from Osisko's new Lynx discovery in Urban-Barry township, Quebec.

Terms of acquisition of the property:

  • Beaufield will pay Alto $300,000 cash.
  • Beaufield will issue 2.75 million Beaufield shares to Alto.
  • Alto will retain a 1-per-cent net smelter return royalty on the property with a buyback provision for 0.5 per cent of the net smelter return royalty by Beaufield for $1-million.

Concurrently with this acquisition, Beaufield will subscribe for 2,916,667 shares of Alto at a price of 12 cents per share for proceeds of $350,000.

The acquisition is subject to approval of the TSX Venture Exchange.

About Beaufield Resources Inc.

Beaufield is a well-financed mineral exploration company with its exploration activity focused in Quebec and Ontario. The corporation is actively exploring, is well financed with approximately $8-million in working capital, has no debt and has excess work credits on its properties.

We seek Safe Harbor.

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