The TSX Venture Exchange has accepted for filing documentation pertaining to an share purchase agreement dated April 16, 2021, between Kodiak Copper Corp., and Orogen Royalties Inc. and Evrim Exploration Canada Corp. (together the sellers). Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest of Axe copper-gold property, located in the Similkameen mining division of British Columbia.
By way of consideration, upon closing, the company will issue 950,000 common shares at a deemed value of $1.58 per share. Additionally, the company will pay cash of up to $400,000 on achieving certain milestones. Evrim will retain 2.0 per cent of the net smelter return (NSR) royalty, 0.5 per cent of which may be purchased at any time for $2-million.
For further details, please refer to the company's news releases dated April 19, 2021.
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