The TSX Venture Exchange has accepted for filing documentation relating to a purchase and sale agreement dated Dec. 23, 2024, between Puma Exploration Inc. and arm's-length parties. Pursuant to the agreement, the company acquired the McKenzie gold project in New Brunswick.

To acquire the first 70-per-cent interest in the property, the consideration paid by the company was the following.

Consideration:  at closing (already issued), $20,000 cash and 2.65 million common shares

One of the sellers retained a 2-per-cent net smelter return (NSR) royalty on the Northwest property and the Grog property, half of which (a 1-per-cent royalty) may be repurchased for a sum of $500,000. The company will also assume other existing NSRs.

The seller's remaining 30-per-cent interest will be free carried until the company incurs $2-million in exploration expenditures. Once such an amount is reached, the company and that seller will have to finance expenses according to their respective pro rata interest in the joint venture. If one party's interest drops below 10 per cent, the ownership will be transferred to a 10-per-cent net profit on mining production.

For further details, please refer to the company's news releases dated Nov. 18, 2024, Dec. 23, 2024, and Jan. 17, 2025.