BULLETIN V2023-0025
WEALTH MINERALS LTD. ("WML")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: November 21, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation the Option Agreement dated August 31, 2023 ("Agreement") between the Company and a Non-Arm's Length party ("Optionor"). Pursuant to the terms of Agreement, the Optionor will grant the Company the option to acquire up to a 20% interest in the Optionor's 50% interest in the Eldorado Option in consideration of cash and eligible exploration expenditures ("Expenditures") according to the following earn-in schedule:
(i) An 8% interest by Dec 31, 2023: $50,000 cash, plus a minimum of $600,000 of Expenditures;
(ii) An aggregate 12% interest by Dec 31, 2023: An aggregate of $900,000 of Expenditures;
(iii) An aggregate 16% interest by Dec 31, 2023: An aggregate of $1,200,000 of Expenditures;
(iv) An aggregate 20% interest by Dec 31, 2023: An aggregate of $1,500,000 of Expenditures.
The Optionor will have the right to request that the Expenditures be filed as assessment work with the applicable government registry to maintain the property in good standing.
For further details, please refer to the Company's news releases dated October 6, 2023, and November 20, 2023.
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