SURGE BATTERY METALS INC. ("NILI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 15, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange ("Exchange") has accepted for filing documentation the Property Option Agreement ("Agreement") dated March 31, 2023, between the Company and Non-Arm's Length vendor ("Vendor"). Pursuant to the terms of the Agreement, the Company has acquired the remaining 20% interest in and to the Surge Nickel Project ("Project"), and now owns a 100% undivided interest in the Project. As consideration for the acquisition, the Company you that the Exchange has conditionally accepted for filing the Property Option Agreement dated March 31, 2023 (the "Agreement"), between the Company and Nickel Rock Resources Inc. (the "Optionor"). Pursuant to the terms of Agreement, the Company will acquire remaining 20% interest in the HN4 and the N100 mineral claims, located in BC ("Property"), for an aggregate 100% interest in the property. In consideration of the acquisition, the Company has fully completed the terms of the underlying Option Agreement dated July 8, 2021, and has issued to the Vendor 1,000,000 common shares of the Company.
The Vendor will retain a 2% net smelter royalty ("NSR") on three certain claims on the Project.
Insider / Pro Group Participation: None
Finders' Fees: None
For further information, please refer to the Company's news releases dated March 31, 2023; April 3, 2023; and June 14, 2023.
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