loi to sell 42 and willa props I think these are exploration/drilling projects. The sale apparently does not include willa max or magistral mines/mills, so bulk of mxl value remains unsold or maybe in works ....
MX Gold signs LOI to sell FortyTwo, Willa for $3M
MX Gold Corp (C:MXL)
Shares Issued 285,447,252
Friday September 28 2018 - News Release
Mr. Dan Omeniuk reports
MX GOLD ANNOUNCES ENTRY INTO LETTER AGREEMENT
On Sept. 26, 2018, MX Gold Corp. entered into a binding letter of intent dated Sept. 21, 2018, with an arm's-length private B.C. corporation. Under the terms of the LOI, the company has agreed to grant the purchaser an exclusive 90-day period to finalize and enter into a definitive agreement, whereby the company agrees to sell all of the shares in the capital of FortyTwo Metals Inc., a private B.C. company and wholly owned subsidiary of the company, and a 100-per-cent interest in the Willa property, consisting of 5,662 hectares located in the Slocan mining division, British Columbia, subject to a net smelter return. In consideration for the proposed sale, the LOI contemplates a purchase price of $3-million in consideration for the sale of the 42 shares and $1 in consideration for the sale of the Willa property.
The parties have agreed to undertake good faith efforts to enter into the definitive agreement on or before Dec. 21, 2018. Entry into the definitive agreement and the closing thereof are subject to certain conditions, including completion of each party's satisfactory due diligence review of the other and receipt of all necessary regulatory approvals, including those of the TSX Venture Exchange. The company anticipates that the transaction will constitute a reviewable transaction in accordance with the policies of the exchange.