VANCOUVER, April 2, 2015 /CNW/ -
TSX VENTURE COMPANIES:
ALTURAS MINERALS CORP ("ALT")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 2, 2015
TSX Venture Tier 1 Company
Effective at 4:58 a.m., PST, April 2, 2015, shares of the Company resumed trading, an announcement having been made.
________________________________________
ANTIPODES GOLD LIMITED ("AXG")
BULLETIN TYPE: Remain Halted - Reverse Takeover, Change of Business
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
Further to the TSX Venture Exchange ('TSXV') Bulletin dated April 2, 2015, trading in the shares of the Company will remain halted pending receipt and review of acceptable documentation regarding the change of business and/or Reverse Takeover pursuant to TSXV Listings Policy 5.2.
This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
ATLANTA GOLD INC. ("ATG")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
Effective at 10:30 a.m., PST, April 2, 2015, shares of the Company resumed trading, an announcement having been made.
________________________________________
CARIBOU KING RESOURCES LTD. ("CKR")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 24, 2015 and March 2, 2015:
First Tranche:
| Number of Shares: |
3,350,000 non flow-through shares |
|
| Purchase Price: |
$0.10 per share |
|
| Warrants: |
1,675,000 share purchase warrants to purchase 1,675,000 shares |
|
| Warrant Exercise Price: |
$0.15 for a one year period |
|
| Number of Placees: |
17 Placees |
|
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| Aggregate Pro Group |
||
| Involvement [2 Placees] |
P |
500,000 |
| Finder's Fee: |
$210 cash and 2,100 warrants payable to Canaccord Genuity Corp. |
|
| $2,400 cash and 24,000 warrants payable to CIBC Wood Gundy |
||
| Finder's fee warrants are exercisable at $0.10 per share for one year. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
CASCADERO COPPER CORPORATION ("CCD")
BULLETIN TYPE: Halt
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
Effective at 4:38 a.m. PST, April 2, 2015, trading in the shares of the Company was halted due to a BC Securities Commission Cease Trade Order. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
CHIBOUGAMAU INDEPENDENT MINES INC ("CBG")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's documentation in connection with the grant of bonus warrants (the "Warrants") to purchase a total of 1,000,000 common shares at the exercise price of $0.05 until December 15, 2016, pursuant to a loan agreement of $100,000 with Géoconseil Jack Stoch Limitée ("GEO"). The loan will mature on December 15, 2016 and will bear annual interest rate of 12%. GEO is a company controlled by Jack Stoch, the president, director and principal shareholder of the Company.
The Company announced the above financing by news release dated January 6, 2015.
MINES INDEPENDANTES CHIBOUGAMAU INC. (« CBG »)
TYPE DE BULLETIN : Émission d'actions en paiement de primes
DATE DU BULLETIN : Le 2 avril 2015
Société du groupe 2 de TSX croissance
Bourse de croissance TSX a accepté le dépôt de documents par la société, relativement à l'octroi de bons de souscription (les « bons de souscription ») à titre de prime permettant de souscrire un total de 1 000 000 d'actions ordinaires au prix d'exercice de 0,05 $ jusqu'au 15 décembre 2016, en vertu d'une convention de prêt de 100 000 $ auprès de Géoconseil Jack Stoch Limitée (« GEO »). Le prêt viendra à échéance le 15 décembre 2016 et comportera un taux d'intérêt annuel de 12%. GEO est une société contrôlée par Jack Stoch, le président, administrateur et principal actionnaire de la société.
La société a annoncé le financement ci-dessus par communiqué de presse daté du 6 janvier 2015.
__________________________________________
COLT RESOURCES INC. ("GTP")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the documentation with respect to a Non-Brokered Private Placement:
| Number of Shares: |
5,250,000 common shares |
| Purchase Price: |
$0.21 per common share |
| Warrants: |
5,250,000 warrants to purchase 5,250,000 common shares |
| Warrant Exercise Price: |
$0.26 per share for a two-year period |
| Number of Placees: |
1 Placee |
| Finder's fee: |
None |
The Company has issued a news release announcing the closing of the Private Placement on August 7, 2014 and September 24, 2014.
COLT RESOURCES INC. (« GTP »)
TYPE DE BULLETIN : Placement privé sans l'entremise d'un courtier
DATE DU BULLETIN : Le 2 avril 2015
Société du groupe 2 de TSX Croissance
Bourse de croissance TSX a accepté le dépôt de la documentation dans le cadre d'un placement privé sans l'entremise d'un courtier :
| Nombre d'actions : |
5 250 000 actions ordinaires |
| Prix : |
0,21 $ par action ordinaire |
| Bons de souscription : |
5 250 000 bons de souscription permettant d'acquérir 5 250 000 actions ordinaires |
| Prix d'exercice des bons : |
0,26 $ l'action pendant une période de deux ans |
| Nombre de souscripteurs : |
1 souscripteur |
| Honoraires des preneurs fermes : |
Aucun |
La société a émis un communiqué de presse annonçant la clôture du placement privé le 7 août et 24 septembre 2014.
________________________________________
CONDOR RESOURCES INC. ("CN")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 26, 2015:
| Number of Shares: |
4,500,000 shares |
|
| Purchase Price: |
$0.05 per share |
|
| Warrants: |
4,500,000 share purchase warrants to purchase 4,500,000 shares |
|
| Warrant Exercise Price: |
$0.05 for a two year period |
|
| Number of Placees: |
21 Placees |
|
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| Jonathan Younie |
Y |
100,000 |
| Ever Marquez Amado |
Y |
50,000 |
| Robert T. Boyd |
Y |
100,000 |
| Graham Scott |
Y |
400,000 |
| Lyle Davis |
Y |
100,000 |
| Aggregate Pro Group |
||
| Involvement [1 Placee] |
P |
200,000 |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
________________________________________
CYGAM ENERGY INC. ("CYG")
BULLETIN TYPE: Halt
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
Effective at 6:29 a.m. PST, April 2, 2015, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
DAJIN RESOURCES CORP. ("DJI")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 16, 2015:
| Number of Shares: |
4,000,000 shares |
| Purchase Price: |
$0.05 per share |
| Warrants: |
4,000,000 share purchase warrants to purchase 4,000,000 shares |
| Warrant Exercise Price: |
$0.05 for a two year period |
| Number of Placees: |
3 Placees |
| Finder's Fee: |
400,000 shares and 400,000 warrants to purchase 400,000 shares at a price of $0.05 for a two year period payable to Ron Loewen. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
EESTOR CORPORATION ("ESU")
[formerly ZENN MOTOR COMPANY INC. ("ZNN")]
BULLETIN TYPE: Name Change
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
Pursuant to a resolution passed by shareholders March 31, 2015, the Company has changed its name as follows. There is no consolidation of capital.
Effective at the opening Monday, April 6, 2015, the common shares of EEStor Corporation will commence trading on TSX Venture Exchange, and the common shares of ZENN Motor Company Inc. will be delisted. The Company is classified as a 'Motor Vehicle Manufacturing' company.
| Capitalization: |
Unlimited |
shares with no par value of which |
|
| 62,237,505 |
shares are issued and outstanding |
||
| Escrow: |
Nil |
shares |
|
| Transfer Agent: |
TMX Equity Transfer Services |
||
| Trading Symbol: |
ESU |
(NEW) |
|
| CUSIP Number: |
28201L101 |
(NEW) |
|
_____________________________________
EVRIM RESOURCES CORP. ("EVM")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 1, 2015:
| Number of Shares: |
4,000,000 shares |
|
| Purchase Price: |
$0.15 per share |
|
| Number of Placees: |
1 Placee |
|
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
Pro-Group=P |
# of Shares |
| Cranberry Capital Inc. |
||
| Paul van Eeden |
Y |
4,000,000 |
The above information is a summary only. Neither TMX Group Limited nor any of its affiliated companies guarantees the accuracy or completeness of the information contained in this document. Readers should consult the issuer's continuous disclosure record for complete details of the transaction.
________________________________________
FIELDEX EXPLORATION INC. ("FLX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the documentation relating to an Acquisition and Option Agreement of March 17, 2015, whereby the Company will acquire a 50% interest in 18 claims of the Copper Point Property and will be granted an option to acquire an additional 50% interest in the 18 claims and in 41 additional claims comprising the remaining part of that property. The property is located in the Chibougamau region of Quebec. The consideration payable by the Company is an aggregate of $462,000 in cash and 1,850,000 common shares over a three year period. Also, the Company will have to initiate a drilling program of at least 200 metres on the property. After the Company has acquired the property, the vendor will retain a 1% Net Smelter Return, that may be repurchased for the sum of $1,000,000.
For more information, please refer to the Company's press release dated March 19, 2015.
EXPLORATION FIELDEX INC. (« FLX »)
TYPE DE BULLETIN : Convention d'achat de propriété, d'actif ou d'actions
DATE DU BULLETIN : Le 2 avril 2015
Société du groupe 2 de TSX Croissance
Bourse de croissance TSX a accepté le dépôt de documents en vertu d'une convention d'acquisition et d'option du 17 mars 2015, selon laquelle la société fera l'acquisition d'un intérêt de 50 % dans 18 claims de la propriété Copper Point et aura l'option d'acquérir un intérêt additionnel de 50% dans les 18 claims en question et dans 41 claims additionnels comprenant la partie restante de la propriété. La propriété est située dans la région de Chibougamau au Québec. La considération payable par la société est un total de 462 000 $ en espèces et 1 850 000 actions ordinaires sur une période de trois ans. Aussi, la société devra initier un programme de forage d'au moins 200 mètres sur la propriété. Après que la société aura acquis la propriété, le vendeur conservera une royauté (« NSR ») de 1 % rachetable en contrepartie d'un paiement de 1 000 000 $.
Pour plus d'information, veuillez vous référer au communiqué de presse de la société daté du 19 mars 2015.
_________________________________________
FIRST MINING FINANCE CORP. ("FF")
[formerly Albion Petroleum Ltd. ("ABP.H")]
BULLETIN TYPE: Qualifying Transaction-Completed/New Symbol, Property-Asset or Share Purchase Agreement, Name Change and Consolidation, Company Tier Reclassification, Resume Trading, Graduation from NEX to TSX Venture
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing Albion Petroleum Ltd.'s (now First Mining Finance Corp.) (the "Company") Qualifying Transaction described in its filing statement dated March 18, 2015 (the "Filing Statement"). As a result, effective at the opening on Monday, April 6, 2015, the trading symbol for the Company will change from ABH.P to FF and the Company will no longer be considered a Capital Pool Company. The Qualifying Transaction includes the following matters, all of which have been accepted by the Exchange.
Acquisition of Sundance Minerals Ltd.:
On July 1, 2014, the Company and Sundance Minerals Ltd. ("Sundance") entered into an Arrangement Agreement to carry out the acquisition of Sundance (the "Transaction"). Pursuant to the terms of the Arrangement Agreement, the Company acquired all of the issued and outstanding shares of Sundance in exchange for 71,074,827 common shares of the resulting issuer and all of the share purchase warrants of Sundance in exchange for 621,720 share purchase warrants of the resulting issuer.
Sundance has a portfolio of 17 properties in Mexico and one in Nevada. The Qualifying Property (as defined in the policies of the Exchange) for the Company's Qualifying Transaction will be the Miranda Property, located in Sonora State, Northern Mexico.
The Exchange has been advised that the Transaction has been completed. The full particulars of the Company's Qualifying Transaction are set forth in the Filing Statement, which has been accepted for filing by the Exchange and which is available under the Company's profile on SEDAR.
Sundance Private Placement – Brokered and Non-Brokered:
Concurrent with closing of the Transaction, Sundance also closed its previously announced brokered and non-brokered private placement (the "Private Placements", by issuing an aggregate of 12,562,912 common shares of Sundance at a price of $0.40 per share for gross aggregate proceeds of $5,025,165. Of this amount, approximately $2,700,000 was through a non-brokered private placement financing and the remaining approximately $2,300,000 was through a brokered financing led by Haywood Securities Inc. and including Salman Partners Inc. as agents (together the "Agents").
A total of 621,720 share purchase warrants were issued to the Agents and certain other finders each exercisable to acquire one common share of the resulting issuer at a price of $0.40 per share for a period of 18 months from closing of the Private Placements.
Name Change and Consolidation:
Pursuant to a resolution passed by shareholders on September 12, 2014, the Company has changed its name to First Mining Finance Corp. The Company has consolidated its capital on a four (4) old for one (1) new basis.
Effective at the opening on Monday, April 6, 2015, the common shares of First Mining Finance Corp. will commence trading on the Exchange, and the common shares of Albion Petroleum Ltd. will be delisted.
| Capitalization: |
Unlimited |
shares with no par value of which |
|
| 73,766,951 |
shares are issued and outstanding |
||
| Escrow: |
837,500 |
shares are subject to a 36 month staged release CPC escrow agreement. |
|
| 7,332,273 |
shares and 2,050,000 stock options are subject to a 36-month staged |
||
| release under a Tier 2 Value Security Escrow Agreement. |
|||
| Transfer Agent: |
Computershare Trust Company of Canada |
||
| Trading Symbol: |
FF |
(NEW) |
|
| CUSIP Number: |
320883 10 1 |
(NEW) |
|
Company Tier Reclassification:
In accordance with Policy 2.5, the Company has met the requirements for a Tier 2 company. Therefore, effective at the opening, Monday, April 6, 2015, the Company's Tier classification will change from NEX to Tier 2.
The Company is classified as a 'Mineral Exploration' company.
Resume Trading:
Effective at the opening on Monday, April 6, 2015, trading in the shares of the Company will resume.
________________________________________
GUNPOINT EXPLORATION LTD ("GUN")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Option Agreement (the "Agreement") dated March 12, 2015 between Gunpoint Exploration Ltd (the "Company") and Timberline Resources Corporation ("Timberline"). As agreed upon in the Agreement, Timberline will have an option to acquire a 100% interest in the Company's Talapoosa Property (the "Property") located in Nevada.
Timberline must pay the Company an aggregate of US$300,000 within 180 days after closing, and issue 2 million shares at the time of grant of the option, releasable from escrow over a 24 month period. The Option is exercisable by Timberline within 30 months of March 12, 2015 (the "Option Period") and Timberline must make reasonable effort to complete a feasibility study on the Property within the Option Period. At any time during the Option Period, Timberline may exercise the Option by paying the Company US$10,000,000 in cash ("Option Payment").
For a period of 5 years following the Option Payment, if the daily price of gold is fixed at or above US$1,600/oz at any time and thereafter the price of gold averages US$1,600 per ounce or more over any 90 day period, Timberline will be required to pay the Company an additional US$10,000,000 (US$5 million in cash and the balance in cash or shares) within 90 days of such occurrence. If Timberline exercises the Option and acquires a 100% interest in the Property, the Company will be granted a 1% net smelter returns royalty which Timberline may purchase at any time by paying US$3,000,000 to the Company.
Further information can be found in the Company's news release dated March 17, 2015.
________________________________________
MRRM INC. ("MRR")
BULLETIN TYPE: Delist
BULLETIN DATE: April 2, 2015
TSX Venture Tier 1 Company
Further to the Company's news releases dated February 10, 2015 and March 31, 2015, the common shares of MRRM Inc. (the "Company") will be delisted from TSX Venture Exchange effective at the close of business on Thursday, April 2, 2015.
The delisting of the Company's common shares results from the completion of an amalgamation of the Company with 9135430 Canada Inc, an indirect wholly-owned subsidiary of Marbour S.A.S. ("Marbour"), whereby Marbour has acquired all issued and outstanding common shares of the Company for a cash consideration of $4.45 per share.
The amalgamation was approved by more than two-thirds of the votes cast by shareholders at a special shareholders' meeting held on March 30, 2015.
For more information, please consult the Company's Management Information Circular dated February 23, 2015.
MRRM INC. (« MRR »)
TYPE DE BULLETIN : Radiation de la cote
DATE DU BULLETIN : Le 2 avril 2015
Société du groupe 1 de TSX Croissance
Suite aux communiqués de presse de la société émis les 10 février 2015 et 31 mars 2015, les actions ordinaires de MRRM Inc. (la « société ») seront retirées de la cote de Bourse de croissance TSX à la fermeture des affaires, le jeudi 2 avril 2015.
La radiation de la cote des actions ordinaires de la société résulte de la réalisation d'une fusion de la société avec 9135430 Canada Inc., une filiale indirecte à 100% de Marbour S.A.S (« Marbour »), en vertu de laquelle Marbour a acquis la totalité des actions ordinaires émises et en circulation de la société pour une considération en espèce de 4,45 $ par action.
La fusion a été approuvée par plus de deux tiers des droits de vote exercés par les actionnaires lors d'une assemblée extraordinaire tenue le 30 mars 2015.
Pour plus de renseignements, veuillez consulter la circulaire de sollicitation de procuration par la direction datée du 23 février 2015.
_______________________________________
NORTHISLE COPPER AND GOLD INC. ("NCX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Discretionary Pricing Waiver Non-Brokered Private Placement announced March 23, 2015:
| Number of Shares: |
3,800,000 shares |
|
| Purchase Price: |
$0.03 per share |
|
| Number of Placees: |
3 Placees |
|
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| David Douglas |
Y |
600,000 |
| Dale Corman |
Y |
3,000,000 |
| Aggregate Pro Group |
||
| Involvement [1 Placee] |
P |
200,000 |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
________________________________________
SEDEX MINING CORP. ("SDN.H")
[formerly Sedex Mining Corp. ("SDN")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on Monday, April 6, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX.
As of April 6, 2015, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from SDN to SDN.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
Further to the Exchange Bulletin dated January 6, 2015, trading in the shares of the Company will remain suspended.
Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
_______________________________________
SIENNA RESOURCES INC. ("SIE")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 18, 2015:
| Number of Shares: |
6,250,000 shares |
| Purchase Price: |
$0.02 per share |
| Warrants: |
6,250,000 share purchase warrants to purchase 6,250,000 shares |
| Warrant Exercise Price: |
$0.05 for a five year period |
| Number of Placees: |
7 Placees |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
________________________________________
TIMBERLINE RESOURCES CORP. ("TBR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 2, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing an option agreement dated March 12, 2015 (the 'Agreement'), among Timberline Resources Corp. (the 'Company') and Gunpoint Exploration Ltd. ('Gunpoint') and certain subsidiaries of Gunpoint.
Pursuant to the Agreement, the Company has acquired the option to purchase 100% of Gunpoint's Talapoosa project, located in western Nevada (the 'Property').
The terms of the Agreement are as follows:
- The Agreement provides Timberline with the right to acquire a 100% interest in the Property (the 'Option') at any time within thirty (30) months of March 12, 2015 (the 'Option Period').
- As consideration for the Option, Timberline has agreed to issue to Gunpoint 2 million shares of common shares of the Company, and pay to Gunpoint US$100,000 upon closing of the transaction and a further US$200,000 within one-hundred and eighty (180) days of closing the transaction.
- At any time during the Option Period, Timberline may purchase 100% of the Property by providing written notification thereof (the 'Notification Date') and paying to Gunpoint US$10 million in cash (the 'Option Payment') within ninety (90) days of the Notification Date.
- For a period of five (5) years following the date that Gunpoint receives the Option Payment (the 'Contingent Payment Period'), should the daily price of gold (as determined by the London PM Fix) average US$1,600 per ounce or greater for a period of ninety (90) consecutive trading days (the 'Trigger Event'), Timberline will be required to pay Gunpoint an additional US$10 million (the 'Contingent Payment') within ninety (90) days of the date that the Trigger Event is deemed to have occurred. The Contingent Payment shall include US$5 million in cash, with the remainder paid either in cash or in shares of common stock of the Company, or a combination thereof, at Timberline's sole discretion.
- Upon Timberline's acquisition of 100% of the Property, Gunpoint will retain a 1% NSR royalty on all minerals, which Timberline may purchase at any time by paying US$3 million to Gunpoint.
Insider / Pro Group Participation: N/A
Please refer to the Company's news releases dated March 17, 2015 and April 1, 2015 for further information.
________________________________________
SOURCE TSX Venture Exchange
Market Information Services at 1-888-873-8392, or email: [email protected]
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