Post by
Opportunity1967 on Dec 15, 2020 10:27am
FGC - Sale on a Portfolio of Red Lake - NSR's - Update
Commentary
Frontline's President and CEO, Mr. Walter Henry, said “The net proceeds from this royalty sale will be used to fund continued exploration and development activities at the Company's Ontario and Quebec properties, a 1,000 metre drilling program at it Menderes Gold property in Turkey in early 2021, to complete additional property acquisitions, capital restructuring and for general working capital purposes.”
Under the terms of the agreement, the company has agreed to make a cash payment of $400,000 and an issuance of 103,271 common shares at a deemed price of $3.87