The TSX Venture Exchange has accepted ..
Strikepoint Gold agreement for Black Raven
2015-02-24 17:24 ET - Property Agreement
Also Property Agreement (C-EMT) Entourage Metals Ltd (2)
The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an assignment and assumption agreement dated Feb. 19, 2015, between Strikepoint Gold Inc. and Entourage Metals Ltd., whereby Entourage has assigned all of its rights under an existing option agreement dated Feb. 28, 2011, as amended Feb. 26, 2013, and Feb. 28, 2014, to acquire a 100-per-cent interest in and to the Black Raven property which comprises 33 mining claims covering 6,640 hectares in the New Smoke Lake property area of Ontario. In consideration, Strikepoint will make cash payments totalling $50,000 and issue a total of 1.7 million shares as follows: $25,000 and 1.1 million shares in the first year; plus $25,000 and 100,000 shares in the second year. Thereafter, 500,000 shares 15 days following completion and filing of a National Instrument 43-101 resource of at least 500,000 ounces of gold or equivalent.
The property is subject to a 2.5-per-cent net smelter return royalty payable upon commencement of commercial production. Strikepoint may repurchase a 1.5-per-cent NSR royalty at any time for $1.5-million.