The TSX Venture Exchange has accepted for filing a mineral property acquisition agreement dated Feb. 6, 2017, between the company, and Gary Lewis, Nigel Lewis and Unity Resources Inc. (the vendors). Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in the Trump Island property in Newfoundland and Labrador. By way of consideration, the company has made a cash payment of $7,000 and will issue 200,000 shares at a deemed price of 19.5 cents per share. The property is subject to a 2-per-cent net smelter return (NSR) in favour of the vendors, of which 50 per cent can be repurchased for $1-million.
Please refer to the company's news release dated Feb. 16, 2017, for further details.
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