Scottie Resources royalty purchase agreement
Scottie Resources royalty purchase agreement
2022-12-01 20:46 ET - Property Agreement
The TSX Venture Exchange has accepted for filing a royalty purchase agreement dated Oct. 25, 2022, between Scottie Resources Corp. and Richard Billingsley, whereby the company will acquire from the vendor 100 per cent of a 1.8-per-cent gross smelter return (GSR) royalty on three mineral claims on the Summit Lake property, located in the Skeena mining division of British Columbia, Canada. In consideration, the company will issue to the vendor 2.5 million common shares at a deemed price of 19 cents per common share. Pursuant to a binding letter of intent dated April 26, 2019, between the company and the vendor, the property is subject to the 1.8-per-cent GSR royalty owned by the vendor.
The transaction is arm's length.
For more information, please refer to the company's news releases on April 30, 2019, and Nov. 3, 2022.
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