Bonterra $150K + 1,500,000 BTR shares...
Pursuant to the Agreement, BonTerra may earn a 100% interest in the Trove Property from Durango in exchange for making the following payments and undertaking the following exploration work on the Trove Property: BonTerra must pay Durango CDN$150,000 in cash and issue Durango 1,500,000 BonTerra common shares within 2 business days of the date the TSX-V approves of the transaction (the Closing Date); on or before the first anniversary of the Closing Date, BonTerra must pay Durango a further CDN$150,000 in cash and issue Durango an additional 1,500,000 common shares; on or before the second anniversary of the Closing Date, BonTerra must pay Durango $200,000 and complete a minimum of CDN$1,000,000 in exploration expenditures, upon which BonTerra will have exercised its option and full title of the Property will be transferred from Durango to BonTerra; BonTerra will issue an additional 2,000,000 common shares to Durango as a discovery bonus if, and when, BonTerra produces a technical report compliant with National Instrument 43-101 showing a minimum 500,000 ounces inferred resource of gold; and Durango will retain a 2% net smelter return royalty in respect of the Trove Property. BonTerra may purchase 50% of this royalty at any time for $1,000,000.