NEWORIGIN GOLD CORP. ("NEWO")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 10, 2021
TSX Venture Tier 2 Company
TSX Venture Exchange (the "Exchange") has accepted for filing documentation pertaining to an Property Sale Agreement dated April 01, 2021 (the "Agreement"), between NewOrigin Gold Corp. (the "Company"), non-arm's length party - O3 Mining Inc. ("O3") and its wholly owned subsidiary: Chalice Gold Mines (Ontario) Inc (together "the Vendors"). Pursuant to the Agreement, the Company will acquire 100% interest in the Kinebik Gold Project (the "Property"), located between the towns of Matagami and Lebel-sur-Quevillon, in northern Quebec.
As consideration for the Property, the Company will issue 2,700,000 common shares of the Company to O3. Additionally, the Company has assumed a 1% Net Smelter Return ("NSR") on the Property which is payable to Chalice Gold Mines (Ontario), the royalty holder.
For further details, please refer to the Company's news release dated April 14, 2021 and May 31, 2021.