The TSX Venture Exchange has accepted for filing of an agreement dated Sept. 9, 2023, between Tyko Resources Inc. (a 100-per-cent-owned subsidiary of the company) and two arm's-length parties (the Moshkinabi vendors) to acquire a 100-per-cent interest in Moshkinabi project, and a separate agreement dated Sept. 9, 2023, to acquire a 100-per-cent interest in Faries Lake project between the Tyko and two arm's-length parties (the Faries vendors).
By way of consideration, the company will provide the following consideration to Moshkinabi vendors:
- $50,000 cash;
- Two million common shares of the company as follows:
- 800,000 common shares issued at closing;
- 400,000 shares issued four months from closing;
- 400,000 shares issued eight months from closing;
- 400,000 shares issued 12 months from closing.
By way of consideration, the company will provide the following consideration to Faries vendors:
- $50,000 cash;
- 300,000 common shares of the company issued at closing.
The company has the right to purchase half of the NSR (net smelter return) royalty by way of a one-time payment to the Faries vendors of $1.5-million, reducing the NSR rate payable to the Faries vendors from 2.0 per cent to 1.0 per cent for the Faries Lake project.
For further details, please refer to the company's news releases dated Sept. 11, 2023.
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