ALX Uranium, DG Resource property agreement
2019-10-22 16:31 ET – Property Agreement
The TSX Venture Exchange has accepted for filing a property purchase agreement between ALX Uranium Corp. and DG Resource Management Ltd. dated Sept. 24, 2019, pursuant to which ALX has agreed to purchase a 100-per-cent interest in the Vixen gold property from DG, a private company controlled by a director of ALX. The Vixen gold property consists of three subprojects totalling 10,008 hectares (27,730 acres), located approximately 60 kilometres east of Red Lake in Ontario, Canada.
As consideration, ALX will pay $32,134.73 to DG to reimburse staking costs. DG will retain a 2-per-cent net smelter return (NSR) on the Vixen gold property. ALX may at any time acquire 1 per cent of the NSR from DG for $1.5-million.
Insider/pro group participation: Jody Dahrouge is a director of both ALX and DG.
For further information, please refer to ALX’s news release dated Sept. 26, 2019, which is available under ALX’s profile on SEDAR.
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