Moose Pasture or.... ....another brilliant play by the Street's current flavor of the month? You have to ask that question because of the price and the terms. I guess whenever the technical numbers come out we will have a better idea. All good, what?
The TSX Venture Exchange has accepted for filing documentation with respect to an option agreement dated Oct. 23, 2012, between Golden Reign Resources Ltd. and Nicoz Resources S.A., whereby Golden Reign will acquire the remaining 20-per-cent interest in the San Albino-Murra property located in Nueva Segovia, Nicaragua. The date of the original option agreement was June 26, 2009.
The consideration will be payable to three arm's-length Nicaraguan individuals, each a shareholder of Nicoz, together holding a total 20-per-cent interest in Nicoz, as follows:
$100,000 (U.S.) on the execution of the option agreement (paid) and $137,500 (U.S.) on or before each three-month anniversary over a period of 12 months for a total of $550,000 (U.S.); The issuance of a total of 2.1 million common shares of Golden Reign in four equal instalments of 525,000 common shares on or before each three-month anniversary over a period of 12 months.