The TSX Venture Exchange has accepted for filing documentation relating to an asset purchase and sale and royalty agreement dated Aug. 3, 2018, between Desert Mountain Energy Corp. and Brixton Metals Corp., whereby the company has disposed of its Yellowjacket gold project and related mineral tenures in Atlin, B.C., and related equipment, supplies and rights to reclamation bonds to the purchaser in consideration for $50,000 in cash, 4.3 million common shares of the purchaser (one million shares subject to a six-month trading restriction; one million shares subject to a 12-month trading restriction; one million shares subject to an 18-month trading restriction; and 1.3 million shares subject to a 24-month trading restriction) and a 1.0-per-cent net smelter return (NSR) from all ore mined from the property to be paid from the purchaser to the company. The 1.0-per-cent NSR is subject to a right of repurchase by the purchaser for the sum of $1.25-million in cash at any time up to 90 days following initial commercial production from the property.
Insider/pro group participation: none
For further information, please refer to the company's press release dated Sept. 6, 2018.
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