Tru Precious Metals agreement for Stony Lake licence
2020-12-18 21:06 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation relating to an asset purchase agreement dated Nov. 20, 2020, between a wholly owned subsidiary (Subco) of Tru Precious Metals Corp., and arm's-length parties, whereby Subco has acquired a mineral licence for the Stony Lake exploration property, along with all related permits and technical data. The property is located in central Newfoundland.
As consideration for the agreement, the $1,005,000 purchase price will be satisfied via the issuance of 3.35 million common shares of the company to the vendors at a deemed value of 30 cents per share.
For further details, please refer to the company's news releases dated Nov. 23, 2020, and Dec. 16, 2020.