- Clarity Metals Corp. (CMET) has signed an early exercise agreement to exercise its option to acquire the Fecteau Property
- The company and the optionors have agreed to amend the terms of the assignment agreement and the original option agreement
- The Fecteau Gold Property, located in the Province of Quebec, is known to host two types of mineralization: VMS (Cu-Zn-Au) and mesothermal gold
- Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on precious and base metals projects
- Clarity Metals Corp. opened trading at $0.27
Clarity Metals Corp. (CMET) has signed an early exercise agreement to exercise its option to acquire the Fecteau Property.
“The company is excited to have earned 100 per cent of the Fecteau Gold Project, which is within an exciting area adjacent to Osisko’s Windfall Lake Project,” noted James Rogers, CEO of Clarity.
“Clarity is awaiting results from its winter 2022 exploration program on the Fecteau Property,” he added.
The option was assigned to the company in accordance with an assignment agreement dated November 22, 2022, among the company, Opus One Gold Corp. and the two original optionors.
Opus One assigned all of its rights in and to the option, which was acquired by Opus One in line with a property option agreement dated June 20, 2016, as amended September 29, 2020, between Opus One and the optionors.
The company and the optionors have agreed to amend the terms of the assignment agreement and the original option agreement to revise the required payments and expenditures on the property to exercise the option.
In accordance with the exercise agreement, the company and the optionors have agreed that the option may be exercised and that the company will exercise the option in full by: (i) paying the optionors a cash payment of $35,000 and (ii) issuing the optionors 185,185 common shares in the capital of the company at a deemed price of $0.27 per share.
In addition, the company has agreed to sign a royalty agreement with the optionors on the completion date.
The Fecteau Gold Property, which is located in the Province of Quebec, is known to host two types of mineralization: VMS (Cu-Zn-Au) and mesothermal gold.
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the acquisition, exploration and development of precious and base metals projects.
Clarity Metals Corp. opened trading at $0.27.