Mr. Jack Stoch reports
TOMAGOLD MAKES CASH AND SHARE PAYMENTS
TomaGold Corp. has deposited $500,000 in the bank account of Chibougamau Independent Mines Inc. as required. Under the option agreement for the West block of claims, TomaGold deposited $300,000, the first-year option payment. Also, per the letter of intent (LOI), $200,000 was deposited related to an exclusive six-month due diligence period to study the East block of claims (see Chibougamau press release dated Aug. 14, 2023, for details of the option agreement and letter of intent).
In addition, TomaGold has issued instructions for the deposit of six million TomaGold shares valued at three cents per share ($180,000) into Chibougamau's stock account.
Chibougamau is pleased that the agreements have now been activated and looks forward to working with TomaGold to help them realize the value of the assets to both the companies' benefits.
We seek Safe Harbor.
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