TSXV:SSE - Post Discussion
Post by
mavericks2020 on Sep 21, 2021 7:34am
news
Silver Spruce agreement for Newfoundland properties
2021-09-20 18:35 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation in relation to an option and purchase agreement dated Sept. 7, 2021, between the company and two arm's-length parties. Pursuant to the agreement, the company will acquire a 100-per-cent interest in the Mystery, Till and Marilyn properties, located near Grand Falls, Nfld. As consideration, the company will pay the vendors an aggregate of $615,000 cash, 10 million common shares and incur a minimum of $1.5-million of expenditures on the properties over a period of five years. The vendors will reserve, retain and hold a 2-per-cent net smelter return royalty on the properties and the company shall be entitled to buy back 1 per cent of the net smelter return royalty for $2-million.
For further information, please refer to the company's news release dated Sept. 14, 2021.
© 2021 Canjex Publishing Ltd. All rights reserved.
Be the first to comment on this post