Great News? Decade Resources Ltd (2) (C:DEC)
Shares Issued 113,743,908
Last Close 10/20/2017 $0.10
Monday October 23 2017 - News Release
Also Mountain Boy Minerals Ltd (C:MTB) News Release
Mr. Randolph Kasum reports
DECADE TO ACQUIRE PRO-RATA PORTION OF 1.0% NSR IN RED CLIFF/MONTROSE PROPERTY
Decade Resources Ltd. has entered into a royalty purchase agreement with Mountain Boy Minerals Ltd. and an arm's length individual royalty holder, wherein the company and Mountain Boy have agreed to purchase 100 per cent of the vendor's 1-per-cent net smelter return royalty in certain mineral claims known as the Red Cliff/Montrose property, situated in the Cassiar district, approximately 25 miles north of the town of Stewart, B.C. The company and Mountain Boy are, subject to royalties, beneficial owners of a 65 per cent and 35 per cent interest, respectively, in the property; accordingly, the company will purchase 65 per cent of the NSR from the vendor and Mountain Boy will purchase 35 per cent of the NSR from the vendor pursuant to the terms of the agreement.
Under the terms of the agreement, in consideration for their respective prorata portion of the NSR, Decade will pay $6,500 cash consideration and issue 280,000 common shares in the capital of Decade to the vendor and Mountain Boy will pay $3,500 cash consideration and issue 171,428 common shares in the capital of Mountain Boy to the vendor. At closing, following the transfer of the NSR to Decade and Mountain Boy, the NSR will be cancelled pursuant to the terms of the agreement. The acquisition remains subject to approval of the TSX Venture Exchange.
About Decade Resources Ltd.
Decade Resources is a Canadian-based mineral exploration company actively seeking opportunities in the resource sector. Its properties and projects are all located in the Golden Triangle area of Northern British Columbia.
© 2017 Canjex Publishing Ltd.
This is got to put a positiver spin on Red Cliff?
Say it again this so far is might be the friving force for Decade?
Not saying to buy or sell?
GLTA Decade share holders..
We may beifit from all the hassle yet.
Ron