8. MINERAL EXPLORATION AND EVALUATION ASSETS (continued)
I. Lochaber
In May 2018, the Company acquired a 100% ownership of the historical mining property
known as the Lochaber claims located in South Western Quebec. On closing, the Company
paid $425,000 by way of offset against an accounts receivable owing by the vendor, issued
750,000 common shares (on a post-consolidation basis) at a deemed value of $0.20 per share
to Great Lakes Graphite Inc., and entered into an offtake agreement to allow Great Lakes
the first right of refusal to purchase up to 10,000 metric tons per year for the life of the
mine. The Company will pay a 1.75% net operational operating cost royalty for 10 years.
From Saint Jean Carbon Interim Sinancial Statements September 27,2018.
Doe anyone know what money Great Lakes owed Saint Jean Carbon?