TERRENO RESOURCES CORP. ("TNO.H")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 8, 2018
NEX Company
TSX Venture Exchange has accepted for filing documentation pursuant to an option agreement among Terreno Resources Corp. ("Terreno") and a private company whereby the Company may earn a 60% interest in the Las Cucharas gold and silver project in Mexico. The Las Cucharas project consists of 17 concessions covering slightly over 4,445 hectares. As consideration, Terreno will issue 2,000,000 common shares ("Shares") within 10 days of TSX Venture Exchange acceptance of the acquisition, 2,500,000 Shares on each of the first and second anniversary of the option agreement, 5,000,000 Shares on the fourth anniversary within five days of the transfer of a 60% interest in the concession titles. The company will also incur cumulative exploration expenditures of $700,000 by Oct 31, 2021 including $200,000 by Oct 31, 2019 and $450,000 by Oct 2020. The property option, once earned and exercised, will make the Las Cucharas project subject to a 3-per-cent net smelter return (NSR) royalty payable to Maverix Metals Inc.
Insider / Pro Group Participation: None
For further information, please refer to the Company's press release dated January 22, 2018.
________________________________________
|
|
