ADD~NEWS~DANGLING CARROT~RED TAPE 1ST~PRIVATE COMPANY NAMEWILL BE REVEALED... Absolutely something BIG is going on uhhh .....new JV partner????
The update private company, Margaret Lake, gives clear insight that LAWYERS & BOD are sitting at the boardroom table. BIG CHESS moves are occurring IMO.
NO WAY, they can keep shareholders in THE DARK , with this dangling carrot of CURIOUSITY too long. Newswire must get spit out ..........WHO IS THE PRIVATE PARTNER??
Arctic Star partner Margaret sells 18.5% of Diagras JV
2024-04-04 17:13 ET - News Release
Mr. Patrick Power reports
ARCTIC STAR PROVIDES UPDATE ON DIAGRAS JOINT VENTURE
Arctic Star Exploration Corp. has provided an update to the joint venture with respect to the Diagras property, in which Arctic Star holds an 81.5-per-cent interest and Margaret Lake Diamonds Inc. held an 18.5-per-cent interest, pursuant to an option and joint venture agreement dated Nov. 7, 2016, between Arctic Star and Margaret Lake (the OJVA).
Arctic Star has provided its consent to an arm's-length transaction, whereby Margaret Lake sold its 18.5-per-cent interest in the Diagras joint venture to a new joint venture party. The acquirer is an arm's-length party to Arctic Star and is a privately held company. Arctic Star has entered into an assignment, consent and acknowledgement agreement with the acquirer and Margaret Lake, whereby Arctic Star has consented to the assignment of Margaret Lake's 18.5-per-cent interest in the Diagras joint venture to the acquirer. Pursuant to the assignment agreement, Arctic Star will continue to be operator and will hold 81.5-per-cent interest in the Diagras joint venture. The Diagras joint venture remains subject to the terms and conditions of the OJVA. If a party to the OJVA dilutes to below a 10-per-cent interest in the Diagras joint venture, then such party's interest will convert to a 1.5-per-cent gross overriding royalty.
Arctic Star has been advised by the acquirer that the assignment agreement closed on March 25, 2024.
About Arctic Star Exploration Corp