03:55:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Goldrush Resources Ltd
Symbol GOD
Shares Issued 167,378,632
Close 2014-10-22 C$ 0.015
Market Cap C$ 2,510,679
Recent Sedar Documents

Goldrush Resources, Nord Prognoz property agreement

2014-10-24 20:36 ET - Property Agreement

The TSX Venture Exchange has accepted for filing share purchase agreement (SPA) dated June 11, 2014, as amended between Goldrush Resources Ltd., its wholly owned subsidiary, Goldrush Burkina SARL, and Nord Prognoz Ltd. Pursuant to the SPA, Nord will acquire all of the issued and outstanding shares of Goldrush Burkina. Goldrush Burkina holds a 100-per-cent interest in two mineral concessions known as the Ronguen project located in Burkina Faso. In order for Nord to acquire Goldrush Burkina, Nord must pay the company a total cash consideration of $4.25-million (U.S.), of which $1-million (U.S.) will be held in escrow subject to certain terms and conditions. The company will retain a 1-per-cent net smelter royalty (NSR) on any production from the project at a gold price over $1,700 (U.S.) per ounce. The NSR may be repurchased at any time for cash consideration of $1-million (U.S.).

Upon completion of the SPA, Nord will acquire the project. All other assets of Goldrush Burkina will be transferred to a new subsidiary of the company, pursuant to a reorganization to be completed at the closing of the transaction.

For further information, please see the company's news release dated June 12, 2014, Sept. 10, 2014, and Oct. 17, 2014.

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