Manganese X agreement for Peter Lake property
2018-09-05 19:25 ET – Property Agreement
The TSX Venture Exchange has accepted for filing a property option agreement dated Aug. 22, 2018, between Manganese X Energy Corp., and Francois Marcotte, Wen Fan, Ghislaine Savard, Guy Le Bel, Resources Amixam Inc. and Resources Maxima (collectively the vendors), whereby the company may acquire a 100-per-cent interest in the Peter Lake property (1,985 hectares), located in the Central Grenville province in Quebec. Consideration is $25,000 cash, a maximum of 1.5 million common shares, 500,000 share purchase warrants exercisable at 25 cents for two years and $400,000 in work commitments over two years. The vendors retain a 2-per-cent net smelter return (NSR) royalty, with the company retaining the right to repurchase 1 per cent for $1-million.
http://www.manganesexenergycorp.com/pressreleases
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