Bakker just let this go??? Genius. Used to be called "Mag Bay" when it was in PacificOre -
Vendome receives TSX-V OK for Mont Sorcier acquisition
2016-11-08 12:09 PT - News Release
Mr. John Priestner reports
VENDOME RESOURCES ANNOUNCES APPROVAL FOR ACQUISITION OF THE MONT SORCIER VANADIUM, IRON, TITANIUM DEPOSIT AND THE FILING OF ITS NI 43-101 TECHNICAL REPORT
The TSX Venture Exchange has accepted the filing documentation relating to Vendome Resources Corp.'s agreement to earn a 100-per-cent interest, from Chibougamau Independent Mines Inc., in the Mont Sorcier vanadium-iron-titanium project in Roy township, Quebec, 18 kilometres east of the town of Chibougamau, as previously announced on Oct. 3, 2016. The parties have changed the terms of their agreement originally entered into on Sept. 28, 2016, as disclosed on Oct. 3, 2016. On Oct. 14, 2016, the parties entered into an amending agreement whereby the company will pay Chibougamau Independent Mines a single cash payment of $150,000 (increased from $100,000 in the original agreement) and issue to Chibougamau Independent Mines 2.75 million common shares of the company (decreased from four million common shares in the original agreement). A minimum of $1-million of exploration to be undertaken in the first 24 months following signature of the agreement, unchanged from the original agreement. Chibougamau Independent Mines will retain a 2-per-cent gross metal royalty (GMR) on all mineral production from the property, unchanged from the original agreement. In order to facilitate the deal, Globex Mining Enterprises Inc., which held a 3-per-cent GMR on a number of claims, has reduced its royalty to a 1-per-cent GMR, but it has been extended to the recently enlarged claim group. In addition, finders' fees of 300,000 common shares the company (decreased from 400,000 common shares in the original agreement) will be issued in relation to the acquisition.
The company will move to close the transaction in due course and will issue the common shares to the vendors and the finder common shares immediately. All securities issued by the company in connection with the transaction will be subject to a statutory four-month hold period.
National Instrument 43-101 technical report