The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length acquisition of a 100-per-cent interest in and to the Volney property mining claims, located in Black Hills, Lawrence county, South Dakota.
Consideration is:
- Upon approval, $400,000 (U.S.) cash and 7,001,000 common shares;
- Within 10 days of the first-anniversary date of approval, $1.05-million (U.S.) cash, and the greater of the number of shares to keep the vendors' shareholdings at 9.9 per cent of issued and outstanding shares valued at $500,000 (U.S.). Prior to the first anniversary of approval, completion of $1-million (U.S.) in exploration expenditures;
- With 10 days of the second anniversary of approval, $1.95-million (U.S.) cash, and the greater of the number of shares to keep the vendors' shareholdings at 9.9 per cent of issued and outstanding, and shares valued at $750,000 (U.S.). Prior to the second anniversary of approval, completion of $1.5-million (U.S.) in exploration expenditures.
For complete details, please refer to the company's news releases dated Oct. 9, 2024, and March 11, 2025.
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