Mr. Marcel Bergeron of Quinto reports
QUINTO RESOURCES SOLD ITS INTERESTS IN THE MONSTER LAKE PROPERTY
Quinto Resources Inc. has entered into a property acquisition agreement dated Aug. 12, 2020, with TomaGold Corp., and would also like to provide an update with respect to the purchase of all issued and outstanding shares of Verdelite Sciences Inc. and Verdelite Property Holdings Inc.
Monster Lake property
TomaGold acquired the 2.5-per-cent interest held by Quinto in the Monster Lake property for a cash payment of $250,000 and the return of 750,000 shares of Quinto held by TomaGold. The closing of the transaction took place on Aug. 26, 2020.
Purchase of Verdelite Sciences and Verdelite Property
On Aug. 11, 2020, Quinto announced the execution of a share purchase agreement among Emerald Health Therapeutics Inc. and itself dated July 30, 2020, regarding the sale of all of the issued and outstanding shares of Verdelite Sciences and Verdelite Property.
The parties were not able to close on or before Aug. 31, 2020, as stated in the previous press release; nevertheless, they are currently working together toward the purpose of closing the transaction in a timely fashion at an early date, subject to the TSX Venture Exchange's approval.
Quinto will require the approval of its shareholders to complete the transaction and will call a shareholder meeting, subject to the TSX-V approval.
A further press release will be disseminated upon the closing of the transaction in accordance with the policies of the TSX-V.
About Quinto Resources Inc.
Quinto is a Canadian gold exploration corporation.
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