2020-09-02 11:07 ET - News Release
Mr. Nick Zeng reports
GOLDEN SHARE SIGNS LOI TO SELL BERENS RIVER PROJECT
Golden Share Resources Corp. has entered into a binding letter of intent with Midex Resources Ltd. to sell its whole interest in the Berens River project for a total consideration of $1.5-million, as outlined as follows:
- Tranche 1 -- cash consideration of $200,000, which has been received;
- Tranche 2 -- cash consideration of $300,000 to be paid on or before Dec. 1, 2020;
- Tranche 3 -- the issuance of two million Midex common shares at a price of 25 cents per share to be issued on the date of the first anniversary of the letter of intent;
- Tranche 4 -- the issuance of a further two million Midex common shares at a price of 25 cents per share to be issued on the date of the second anniversary of the letter of intent.
Berens River is located 200 kilometres north of Red Lake, hosted in the Favourable Lake greenstone belt of Northwestern Ontario. The project includes the past-producing Berens River mine. For more information about Berens River, please refer to the company's press release of March 19, 2019.
Golden Share and Midex will negotiate in good faith and use reasonable efforts to execute the definitive documents on or before Sept. 15, 2020.
About Golden Share Resources Corp.
Golden Share Resources is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral-rich and politically stable jurisdiction.
We seek Safe Harbor.