Berkwood agreement with Intact Gold
2019-01-24 16:12 ET – Property Agreement
Also Property Agreement (C-ITG) Intact Gold Corp (2)
The TSX Venture Exchange has accepted for filing a letter of intent between Berkwood Resources Ltd. and Intact Gold Corp. dated Dec. 31, 2018. Under the agreement, Berkwood has agreed to grant Intact an option to acquire a 2.5-per-cent interest in and to Berkwood’s Lac Gueret South property located in Quebec. Consideration is exploration expenditures in the amount of $125,000 on or before Dec. 31, 2018 (paid).
Either party to the agreement has the right to cause Berkwood to buy back the interest in consideration of the issuance to Intact of 875,000 units of Berkwood. Each unit is to comprise one common share of Berkwood and one-half share purchase warrant, where each whole warrant will entitle the holder to acquire one additional common share of Berkwood at a price which is the greater of 15 cents or the 10-day volume-weighted average price of the shares of Berkwood at the time that notice is provided.
https://berkwoodresources.com/news-releases/
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