VANCOUVER, BC / ACCESSWIRE / March 2, 2023 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) is pleased to announce that the TSX Venture Exchange has accepted for filing with respect to its previously announced 100% acquisition of 3 nickel-copper-cobalt-platinum group element properties, situated in the Shebandowan Greenstone Belt, in northwestern Ontario.
As previously announced in the Company's February 7, 2023, news release, the Company will issue 1.5 million shares, pay $20,000 and grant a 2.5% NSR to the vendors of which 1.5% can be purchased back anytime by the Company at its discretion for two million dollars. Further, in the event that and subsequent to the Closing, SKYG determines in its reasonable discretion that an ore body of more than 5 million tonnes is situated in or on the Property, and that such ore body is commercially viable in accordance with industry standards, then the consideration payable by SKYG shall be adjusted upwards, such that SKYG shall issue an additional 1,000,000 common shares at a price of $0.075 in its capital to the Vendors provided that SKYG has not sold or otherwise relinquished the Property.
There will be no finder's fees associated with this acquisition.
Sky Gold Corp. Completes Acquisition of Three Nickel-Copper-Cobalt-Platinum Group Element Properties in the Shebandowan Greenstone Belt, Northwestern Ontario (accesswire.com)