The TSX Venture Exchange has accepted for filing documentation the asset purchase agreement dated Dec. 28, 2023, between the company and three arm's-length parties. Pursuant to the terms of agreement, the company will acquire a 100-per-cent interest in two mineral claims covering exploration ground contiguous with the Woodjam project, in consideration for the issuance of 100,000 common shares of the company. The shares will be subject to a four-month hold period pursuant to applicable Canadian securities laws, after which 25 per cent of the shares will become free trading. In addition, the vendors has agreed to voluntary resale restrictions, whereby an additional 25 per cent of the shares will become free trading every four months thereafter.
Insider/pro group participation: none
Finders' fees: none
This acquisition is considered to be an arm's-length transaction.
For further information, please refer to the company's news releases dated Jan. 16, 2023, and Feb. 21, 2024.
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