Xmet Inc XMTTF

RE:RE:RE:RE:news

[Solidsnake10]

Solidsnake10 wrote: From Metal Creeks new release.

In order to earn a fifty percent (50%) interest in the claims, Xmet has agreed (a) to make a cash payment of $5,000 and issue 1,000,000 common shares to Metals Creek, forthwith after receiving the approval of the Exchange; (b) carry out $60,000 in work obligations, make a cash payment of $15,000 and issue a further 1,000,000 shares to Metals Creek within five months of Exchange approval; (c) carry out a further $150,000 in work obligations and perform a minimum 500m of drilling within one year of Exchange approval; (d) carry out a further $250,000 in work obligations and issue 500,000 shares to Metals Creek within two years of Exchange approval; and (e) carry out a further $425,000 in work obligations and issue 500,000 shares to Metals Creek within three years of Exchange approval. Xmet may then increase its interest from fifty percent to sixty percent within 90 days after earning its fifty percent interest by making a cash payment of $100,000, issuing 1,500,000 shares to the Optionor and conducting $1,000,000 in work obligations over the next year. Xmet may at any time accelerate its obligations to earn its interest earlier. Once Xmet’s interest is earned, the project will continue as a joint venture with Metals Creek. This agreement is subject to the approval of the TSX Venture Exchange (the “Exchange”).
 

er nvm. I should have kept reading the xme release lol.