selling of an optioned property for almost $1millionand reducing costs.
As consideration for the transfer of Starcore's option to acquire the Project, IM will make cash and share payments to Starcore in the following amounts:
- US$150,000 in cash to be paid upon closing of the Transaction.
- 4,100,000 common shares in the capital of IM (each, a "Common Share") to be issued upon closing of the Transaction.
- The Common Shares issued to the Seller will be subject to a contractual escrow period of twelve (12) months following the date of issuance, with 25% being released every three (3) months, with the first release occurring no later than 3 months after the closing of the Transaction.