The TSX Venture Exchange has accepted for filing documentation in connection with the disposition of an additional 0.5-per-cent royalty interest on the Loki diamond project to Umgeni Holdings International Ltd., pursuant to an amended and restated royalty agreement dated July 31, 2019. Pursuant to the terms of the agreement, Umgeni acquired the additional royalty by making a cash payment of $266,000. This was a non-arm's-length transaction as Umgeni is controlled by Christopher Jennings, an insider of the company. No finder's fee was payable.
For further information, please refer to the company's news releases dated Aug. 7, 2019, and Sept. 3, 2019.
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