Mr. John Mirko reports
ROKMASTER SETTLES SPECIAL WARRANTS AND ACQUIRES ADDITIONAL MINERAL CLAIMS AT DUNCAN LAKE ZINC PROJECT
In preparation of completing the planned spinout of the Duncan Lake zinc project to Rokmaster Resources Corp.'s wholly owned subsidiary, 4Metals Exploration Ltd. (see news release dated Jan. 26, 2022), Rokmaster Resources has entered into a termination agreement (TA) and a property purchase agreement (PPA).
The TA is with the three vendors of the Duncan project (see news release dated Nov. 2, 2016) and calls for the cancellation of all their special warrants in the company and their 2.5-per-cent net smelter return royalty on the company's 100-per-cent-owned Duncan project in consideration of Rokmaster issuing them an aggregate of three million Rokmaster common shares.
The PPA is to acquire a 100-per-cent interest in two important claim blocks totalling 1,627 hectares south of the Duncan project by issuing two million Rokmaster common shares to the vendors.
The vendors of the TA and the PPA are arm's-length third parties, and the issuance of the settlement shares and the purchase price shares is subject to receipt of regulatory approval.
We seek Safe Harbor.
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