08:40:56 EDT Thu 02 May 2024
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or Name
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Rokmaster Resources Corp (2)
Symbol RKR
Shares Issued 163,240,478
Close 2024-03-08 C$ 0.05
Market Cap C$ 8,162,024
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Rokmaster receives default notice from Huakan

2024-03-09 04:50 ET - News Release

Mr. John Mirko reports

ROKMASTER RECEIVES A NOTICE OF DEFAULT IN RESPECT OF THE REVEL RIDGE PROJECT OPTION

Rokmaster Resources Corp. has received a notice of default from Huakan International Mining Inc. for the failure to make an option payment of $19.4-million to Huakan due on Feb. 25, 2024, pursuant to the terms of an option agreement dated Dec. 23, 2019, between the company, Huakan and Huakan's shareholders, as amended on Jan. 30, 2023.

Pursuant to the option agreement, Huakan granted to the company an option to acquire a 100-per-cent interest in Huakan's J&L property (which the company has renamed to the Revel Ridge project) located approximately 45 kilometres from Revelstoke, B.C.

The notice of default stated that the company has until 4:30 p.m. Vancouver time on April 8, 2024, to pay Huakan the current option payment in full, failing which Huakan advises that it intends to immediately terminate the option agreement.

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