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CBLT Inc V.CBLT

Alternate Symbol(s):  CBBLF

CBLT Inc. is a Canada-based company, which is primarily engaged in the business of acquisition, exploration and dealing in mineral properties in Canada. The Company holds a 100% interest in the Copper Prince property. The property is subject to a 2% net smelter return royalty. It holds a 100% interest in the Chilton Cobalt property located in the Laurentian Region of Quebec. It holds a 100% interest in the Geneva Lake property. It holds a 100% interest in the Big Duck Lake property, located in Northern Ontario. The Company’s Burnt Pond property is a Zinc-Copper Property located in central Newfoundland. The property is located in the Tally Pond volcanic belt. It holds a 100% interest in the Mikayla, Tat and Chess properties. Its Shatford Lake property consists of two mining claims located in the Bird River Greenstone Belt in Manitoba.


TSXV:CBLT - Post by User

Comment by ctblizzardon Aug 25, 2020 1:23pm
130 Views
Post# 31450998

RE:RE:Ramping up North Shore Property

RE:RE:Ramping up North Shore PropertyYes, looks like it is sold. You can go to sedar.ca  and search for Omni Commerce , news release dated August 19, 2020

The news release dated August 19, 2020 was disseminated through Accesswire

Item 4 Summary of Material Changes

On August 19, 2020 the Company announced that, further to its news releases dated April 27, 2020 and June 1, 2020, it has completed the acquisition of CBLT Inc.’s (TSXV: CBLT) (“CBLT”) 56% majority joint venture interest in the Northshore Gold Property (the “Property”), located in the Schreiber-Hemlo Greenstone Belt, 115 km west of Hemlo and 200 km east of Thunder Bay.

Summary of the Transaction Pursuant to the terms and conditions of a mineral property purchase and sale agreement (the “Agreement”) dated May 29, 2020 with CBLT, the Company acquired the 56% joint venture interest in the Property for total aggregate consideration of $1,450,000 (collectively, the “Purchase Price”), consisting of: (i) cash consideration of $350,000 (the “Cash Consideration”) and (ii) stock consideration of $1,100,000 payable by the issuance the issuance of an aggregate of 9,166,666 common shares in the capital of the Company (each, a “Consideration Share”) at a deemed price of $0.12 per Consideration Share. All of the Consideration Shares are subject to the terms of a voluntary escrow agreement dated August 18, 2020, which terms include the release of 25% of the Consideration Shares from escrow on each of the days which is four, six, eight and 12 months after the closing of the transactions contemplated by the Agreement (the “Closing”). The voluntary escrow will be in addition to and any resale restrictions imposed under applicable securities laws........
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