Mr. Mike England reports
SKY GOLD CORP. COMPLETES ACQUISITION OF THE KA NI-CU-CO-CR-PGE PROPERTY, NORTHWESTERN ONTARIO
The TSX Venture Exchange has accepted for filing with respect to Sky Gold Corp.'s previously announced arm's-length acquisition of the KA nickel-copper-cobalt-chromium-platinum-group-element (Ni-Cu-Co-Cr-PGE) property, located in Northwestern Ontario.
As previously announced in the company's July 12, 2023, news release, the company will issue up to 815,000 shares of Sky Gold and pay up to $150,000 in cash to the vendors over a four-year period. The company will additionally grant a 2.0-per-cent royalty to the vendors. Advance royalty payments of $20,000 are due annually to the vendors, between years 5 and 10 of this agreement.
Of the royalty, a 1-per-cent royalty can be bought back from the vendors at any time for the sum of $250,000. Sky shall retain the right of first refusal on purchasing the remaining 1-per-cent royalty from the vendors.
This is an arm's-length acquisition and there are no finders' fees associated with this acquisition.
We seek Safe Harbor.
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