Belmont Resources sale of 75% of Pathfinder property
2021-12-23 16:08 ET - Property Agreement
TBelmont Resources sale of 75% of Pathfinder property
he TSX Venture Exchange has accepted for filing documentation related to a property option agreement between the company and Highrock Resources Ltd., a non-arm's-length party, whereby the company will dispose of up to a 75-per-cent interest to Highrock in its Pathfinder property. Pursuant to the terms of the agreement, Highrock can earn a 51-per-cent interest in the property by making a $5,000 cash payment and issuing 100,000 shares to the company. Highrock can then earn the remaining 24-per-cent interest by making an additional cash payment of $10,000, issuing an additional 100,000 shares to the company and incurring specified exploration expenditures. Director and officer of the company, Gary Musil, is also a director and officer of Highrock.
For further information please refer to the company's news releases dated Aug. 31, 2021, and Nov. 26, 2021, which are available under its profile on SEDAR.
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