The TSX Venture Exchange has accepted for filing documentation a purchase agreement dated Aug. 26, 2020, between Brixton Metals Corp. and Kodiak Copper Corp. Pursuant to the agreement, Brixton will purchase and acquire a 100-per-cent interest in the Trapper property located in the Golden Triangle of Northern British Columbia. As consideration for the property, the company will provide $910,000 to be satisfied by an initial cash payment of $100,000 and by issuing 2,324,393 common shares at a deemed value of 39.15 cents per common share on the closing date.
Kodiak is considered at arm's length to Brixton. In connection with this transaction, Brixton entered into an agreement with C.J. Greig Holdings Inc. (Charles Greig) to terminate his net smelter royalties on the property in return for $90,000 satisfied by a $45,000 cash payment and by issuing 113,924 common shares of the company. The company will also be providing a $20,000 cash payment to Constantine Metals Resources Ltd. which has agreed to terminate its right of first refusal on a 0.5-per-cent net smelter royalty previously issued on the property.
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