The TSX Venture Exchange has accepted for filing documentation related to the letter of intent (LOI) dated Sept. 9, 2016, between NRG Metals Inc., its wholly owned subsidiary, NRG Metals Argentina S.A. (NRG Argentina), and Crydon S.A., whereby NRG Argentina will acquire 100 per cent of the rights to exploration concession known as Luz Maria in the Puna region of Catamarca province of Argentina (the Carachi Pampa project).
Consideration under this transaction will consist of the following.
Cash payment of $860,000 (U.S.) over five years as follows:
- Year 1, $160,000 (U.S.) payment on execution of the definitive agreement;
- Year 2, $100,000 (U.S.);
- Year 3, $100,000 (U.S.);
- Year 4, $250,000 (U.S.);
- Year 5, $250,000 (U.S.).
The company will also pay finders' fees, timed to the payment of the consideration, as follows.
Finders' fees: $36,000 (U.S.) over five years payable to Jose Luis Martin of Catamarca, Argentina;
$36,000 (U.S.) over five years payable to James K. Duff of Coeur d'Alene, Idaho
Effective at the open, Tuesday, Feb. 21, 2017, trading in the company's shares will resume.
Further information on this transaction is available through the company's SEDAR profile in news releases dated Aug. 18, 2016, Sept. 21, 2016, Nov. 18, 2016, Nov. 21, 2016, Dec. 1, 2016, Jan. 9, 2017, Feb. 6, 2017, and Feb. 17, 2017.
Crydon S.A.: $860,000 (U.S.)
Jose Luis Martin: $36,000 (U.S.)
James K. Duff: $36,000 (U.S.)
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