BOWMORE EXPLORATION LTD. ("BOW")
BULLETIN TYPE: Property-Asset or Share Purchase Agreements
BULLETIN DATE: May 15, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation in connection with the following:
1. An Option Agreement dated May 1, 2017 between David O'Neil and Barry Hachey (collectively, the "Vendors") and the Company whereby the Company has been grant an option to acquire a 100% undivided interest in the Moose Brook Project located in Northumberland County, New Brunswick. Aggregate consideration is $50,000 and 500,000 common shares (O'Neil as to 375,000 common shares and Hachey as to 125,000 common shares) payable over a four year period. Upon the Company having earned a 100% interest in the Property, the Company will grant O'Neil a 0.75 Net Smelter Returns Royalty ("NSR") and to Hachey a 0.25% NSR. The Company shall have the right to purchase 50% of the NSR (for cancellation) for $500,000, $375,000 subject to further Exchange review and acceptance.
2. An Option Agreement dated March 7, 2017 between Richard Mann, Norman Pitre and Roland Lovesey (collectively, the "Vendors") and the Company whereby the Company has been granted an option to earn a 100% interest in claim blocks known as the Gilmour South, Louvicourt, Fab, and Flat Landing Brook Properties located in the Bathurst Mining Camp, Northumberland County, New Brunswick. Aggregate consideration is $216,000, 570,000 common shares over a five year period, 150,000 common shares within 5 days of a positive preliminary economic assessment and 300,000 common shares within 5 days of receipt of a positive feasibility study (each of the Vendors will receive up to 340,000 common shares).
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