17:07:25 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Aldrin Resource Corp (2)
Symbol ALN
Shares Issued 20,205,234
Close 2015-02-27 C$ 0.255
Market Cap C$ 5,152,335
Recent Sedar Documents

Aldrin agreement for Key Lake property

2015-02-27 19:17 ET - Property Agreement

The TSX Venture Exchange has accepted for filing an option and joint venture agreement dated Feb. 2, 2015, between Aldrin Resource Corp. and Fission 3.0 Corp. whereby the company has acquired an option to acquire up to an undivided 50-per-cent right, title and interest in and to the Key Lake property that is located in Saskatchewan. Consideration is $900,000 that is payable in $100,000 tranches prior to Feb. 1, 2019; 2,000,318 common shares; and $1.4-million in exploration expenditures prior to May 1, 2016. To acquire the balance of the interest, the company must maintain the option in good standing and incur the following exploration expenditures:

  • For an additional 20-per-cent interest, the company must incur an additional $1.7-million in exploration prior to May 1, 2017.
  • For an additional 10-per-cent interest, the company must incur an additional $2-million in exploration prior to May 1, 2018.
  • For an additional 20-per-cent interest, the company must incur an additional $2.2-million in exploration prior to May 1, 2019.

The company has the option to pay $800,000 of the cash consideration in common shares. The payment in shares is subject to further exchange review and acceptance.

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