NEWS OUT,Bolero options 75% of Baird from SLT
United Bolero options 75% of Baird from Solitaire
2006-02-10 16:18 ET - Property Agreement
Also Property Agreement (C-SLT) Solitaire Minerals Corp
The TSX Venture Exchange has accepted for expedited filing documentation of an option agreement dated Jan. 19, 2006 between United Bolero Development Corp. (the optionee) and Solitaire Minerals Corp. (the optionor), whereby United may acquire up to a 75-per-cent interest in Solitaire's Baird property located in Red Lake, Ont.
The terms of the agreement are over a three-year period and are as follows:
year one: $10,000 payment, issue of 150,000 UNB shares, work commitment of $200,000;
year two: $15,000 payment, issue of 100,000 UNB shares, work commitment of $200,000 (60-per-cent property interest earned on completion of first year commitments); and
year three: $20,000 payment, issue of 100,000 UNB shares, work commitment of $350,000 (75-per-cent property interest earned on completion of third year commitments).