Pistol Bay Mining, DG Resource property agreement Pistol Bay Mining, DG Resource property agreement
Pistol Bay Mining Inc (3) (C:PST)
Shares Issued 68,333,822
Last Close 9/11/2020 $0.06
Friday September 11 2020 - Property Agreement
The TSX Venture Exchange has accepted for filing an option agreement dated Sept. 9, 2020, between Pistol Bay Mining Inc. and DG Resource Management Ltd. (Jody Dahrouge), whereby the company may acquire a 100-per-cent interest in the Icefields gold project (seven claims, 6,750 hectares), located in southeastern British Columbia. Consideration is $50,000 cash, seven million common shares and two million common share purchase warrants over two years. In the event of a National Instrument 43-101 gold equivalent resource of one million ounces being outlined, the company shall pay the vendor $1-million cash or an equivalent number of shares, or a combination thereof. Each share purchase warrant is exercisable into one common share at six cents for three years from issuance. The vendor retains a 2-per-cent net smelter return (NSR) royalty, with the company having the right to purchase 1 per cent for $1-million at any time.
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