BULLETIN V2024-0483
DELTA RESOURCES LIMITED ("DLTA")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: February 13, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange (the "Exchange") has accepted for filing documentation pertaining to a Property Acquisition Agreement dated January 16, 2024 (the "Agreement"), between Delta Resources Limited (the "Company") and arm's length vendors (the "Vendors"). Pursuant to the Agreement, the Company will have the option to acquire 100% interest in twenty-one claims covering 1,170 hectares at the Delta-2 property (the "Property"). The Property is a mining claims property located 35 kilometers southeast of the Town of Chibougamau, Quebec.
As consideration on closing, the Company shall pay the Vendors a one-time cash payment of $5,000, and issue 350,000 common shares of the Company priced at $0.105 per share. Pursuant to the Agreement, the Vendors shall retain a 2% Net Smelter Return ("NSR") royalty on the claims. The Company retains the right to buy back a 1% NSR from the Vendors for $1,000,000 and retains a right of first refusal on the purchase of the remaining 1% NSR royalty.
For further details, please refer to the Company's news releases dated January 19, 2024.
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