VULCAN MINERALS INC. ("VUL")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 30, 2022
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a Purchase and Sale Agreement (the "Agreement") dated May 31, 2022 between Vulcan Minerals Inc. (the "Company") and Herb Froude ("Vendor"), whereby the Company will be acquiring a 100% interest in 20 mineral claims at Red Cross Lake in central Newfoundland (the "Property").
As consideration, the Company will pay $10,000 and issue 100,000 common shares at a deemed price of $0.30 per share to the Vendor upon signing. The Vendor will retain a 1.0% Net Smelter Royalty on the Property, of which up to 1.0% may be repurchased by the Company for $1,000,000.
For further information, refer to the Company's news releases dated May 31, 2022 and June 1, 2022.
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