The TSX Venture Exchange has accepted for filing an option to purchase and royalty agreement dated March 14, 2017, between the company and Lorne Warren (the optionor). Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in certain mineral claims near Dease Lake in northwestern British Columbia. By way of consideration, the company will make cash payments totalling $225,000 and will issue 800,000 shares over a five-year period at a deemed price of six cents per share. The company will issue an additional 200,000 shares to the optionor if the property goes into commercial production. The property is subject to a 2-per-cent net smelter return (NSR), which may be repurchased by the company for $1-million per 1 per cent.
Please refer to the company's news release dated March 14, 2017, for further details.
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