Kingfisher Metals agreement for Ball Creek East project
2023-03-31 20:09 ET – Property Agreement
The TSX Venture Exchange has accepted for filing an option agreement dated March 6, 2023, between Kingfisher Metals Corp. and an arm’s-length party. Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in a series of mineral claims located in the province of British Columbia, commonly referred to as the Ball Creek East project. By way of consideration, the company will issue a total of $3.5-million in shares (up to a maximum of 70 million shares) at a price the greater of five cents and the market price to the optionor, and will pay $7.5-million in exploration expenditures over a four-year period. The property is subject to a 2-per-cent net smelter return royalty to be retained by Sandstorm Gold Ltd., of which one-half may be purchased by Orogen at any time with a cash payment of $1-million.
For further details, please refer to the company’s news release dated March 7, 2023.
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