15:29:33 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Garibaldi Resources Corp
Symbol GGI
Shares Issued 70,792,125
Close 2016-06-09 C$ 0.09
Market Cap C$ 6,371,291
Recent Sedar Documents

Garibaldi Resources, DeCoors Mining property agreement

2016-06-09 16:50 ET - Property Agreement

The TSX Venture Exchange has accepted for filing documentation pursuant to an agreement of purchase and sale dated May 5, 2016, and announced via news release on May 18, 2016, between the company and DeCoors Mining Corp., whereby the company will acquire 35 mineral tenures comprising approximately 8,070 hectares located in the Liard mining division, known as the Palm Springs property.

The agreement is in three stages, where the company is the optionee and DeCoors is the optionor. As per the first option, the company can earn a 60-per-cent interest in the property by paying $10,000 in cash, issuing 1.4 million shares and completing exploration work requirements of $2.1-million over a period of four years. In the second option, the company can earn an addition 15-per-cent undivided interest in the property by issuing an additional two million shares on or before the fourth anniversary of the agreement. In the third option, which is only granted if the company earns and exercises the first option and second option, the company can earn an additional 20-per-cent undivided interest in the property by at any time paying to the optionor an additional sum of $2-million in cash.

For further details, please see the company's news release dated May 18, 2016.

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