[July 17, 2017 : Melkior sells Launay Property to BFD
Timmins, Ontario / TheNewswire / July 17, 2017 - Melkior Resources Inc. (Melkior) is pleased to announce that it has entered into an agreement (the Agreement) with Beaufield Resources Corp. (TSX-V: BFD) (Beaufield), whereby Beaufield will purchase Melkiors 50% interest in the Launay property (the Property), thereby becoming a 100% owner of the Property. The Property is located in the Launay Township, in the Abitibi Greenstone Belt, Quebec.
Under the terms of the agreement, Beaufield will pay $125,000 in cash and issue 2,500,000 common shares to Melkior upon acceptance of the transaction by the TSX Venture Exchange. Melkior will retain a 1.5% net smelter returns royalty on the Property, one-half of which may be purchased by Beaufield for $750,000.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: info@melkior.com
Tel: 705-267-4000
The reader is invited to visit Melkior's web site www.melkior.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Read more at https://www.stockhouse.com/news/press-releases/2017/07/17/melkior-sells-launay-property-to-beaufield#61eTHXrKyB8gwMiK.99