Golden Predator Mining Corp. NTGSF

Azarga Metals Signs Term Sheet to Acquire Marg Project

[GoldenPolarBear]

"...PROPOSED TRANSACTION

Azarga Metals has executed a Term Sheet with Golden Predator with the following key proposed acquisition terms;

• A non-refundable Exclusivity Fee of C$50,000 payable within 5 days of signing for a 60-day exclusivity period to enable Azarga Metals to conduct its due diligence investigations
• On completion of the Transaction, fully paid ordinary shares in Azarga Metals, to the value of C$700,000 (based on the volume-weighted average trading price of Azarga Metals shares for the 20 trading days prior to any public announcement related to the Transaction). The Shares may be subject to an involuntary escrow period as determined by the relevant stock exchange and regulatory bodies. If the escrow period is longer than 6 months, a further cash payment of C$100,000 will be payable to Golden Predator on signing; and
• A further cash payment of C$200,000 at the one-year anniversary date for the completion of the Transaction; and
• A further cash payment of C$350,000 at the two-year anniversary date for the completion of the Transaction; and
• A milestone payment of C$300,000 (in cash or shares at Golden Predators discretion) upon final decision to mine by Azarga Metals at the Marg Project; and
• On and from completion of the Transaction, Golden Predator will be entitled to a 1% NSR royalty of all metals extracted from the Project. Azarga Metals will have the option to buy back 100% of the NSR for a cash consideration of C$1,500,000.

Proposed transaction conditions involve usual conditions (including the requirement for approval by the TSX Venture Exchange). The conditions also include receipt of appropriate consent under the existing Baker Steel Resources Trust convertible loan.

A Finders fee on final closing of the Transaction and in accordance with the Transaction milestones payable in cash or the Company’s shares at the Company’s discretion (the “Finder’s Fee“) will be: 10% of the first C$300,000 consideration received by the Company in connection with the Transaction; plus 7.5% on consideration of between C$300,000 and C$1,000,000 received by the Company in connection with the Transaction; and 5.0% on any consideration in excess of C$1,000,000 received by the Company in connection with the transaction, where consideration amounts are received from Introduced Parties and where such consideration excludes any payments received in the form of Exclusivity Fees...."

https://investingnews.com/news/copper-investing/azarga-metals-signs-term-sheet-to-acquire-marg-copper-rich-vms-project-in-yukon/