RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:BKM mine valuation I just checked and see that Noranda will receive 250,000 shares when mine production starts. 16,766,969 + 2,875,000 + 250,000 = 19,891,969 total shares Therefore from what I can tell we are just under 20 million shares Company News Releases...
April 19, 2004
Purchase of Morrison Property
Pacific Booker Minerals Inc. has signed a purchase agreement with Noranda Inc. for the purchase of Noranda’s Morrison Property (Erin 1 Claim). The property contains the Morrison copper/gold porphyry deposit and is located 65 kilometres NE of Smithers, BC. The agreement consists of issuance of cash and shares by Pacific Booker to Noranda as follows:
Cash payments totalling $3,500,000 over 36 months:
- $1,000,000.00 within 60 days of signing the Agreement
- $1,000,000.00 18 months from signing the Agreement
- $1,500,000.00 36 months from signing the Agreement
Issuance of 250,000 shares and 250,000 warrants (2 year warrants with an exercise price of $4.05) on approval by the TSX Venture Exchange.
Issuance of 250,000 shares on commencement of commercial production.
The purchase agreement replaces the former agreement of October 1997 between Noranda and Pacific Booker and will result in Pacific Booker owning 100% of the property with no net smelter returns or concentrate commitments to Noranda.
This Agreement is subject to approval by the TSX Venture Exchange.
Pacific Booker Minerals Inc. has arranged a private placement of 170,000 units. Each unit will consist of one share at a purchase price of $4.00 per unit and one two-year warrant exercisable at a price of $4.05 per share. Total proceeds of $680,000.00 will be used to pay the initial payment to Noranda Inc. and general working capital. This private placement is subject to Regulatory Approval.
https://pacificbooker.com/NR2004-04-19_pur_Morrison.htm