The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated Nov. 7, 2022, between the company and an arm's-length party, whereby the company has the option to acquire up to a 100-per-cent interest in 12 mining claims located in Salamanca, Coquimbo, Chile.
Under the terms of the agreement, the aggregate $4-million (U.S.) purchase price can be satisfied via cash over the span of five years. The vendor will retain a net smelter return (NSR) royalty of 1.5 per cent in respect of the project. The company will have the right to buy back 1.0 per cent of the NSR royalty for $2-million (U.S.).
For more information, please refer to the company's news release dated Nov. 18, 2022.
© 2023 Canjex Publishing Ltd. All rights reserved.