KING'S BAY GOLD CORPORATION ("KBG")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 20, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a property acquisition agreement (the "Agreement") dated October 4, 2016 between King's Bay Gold Corporation (the "Company") and Crooks Lake Holding Limited, Cameron Martin and Jeffrey Martin (the later three collectively being, the "Vendors") to acquire 66 mineral claims located in Happy Valley, Goose Bay, Newfoundland and Labrador (the "Property").
In order to acquire the Property, the Company must pay an aggregate of $100,000 and issue 900,000 common shares in the Company over a period of 3 years. The Agreement is subject to a 1.5% net smelter royalty ("NSR") of which the Company can purchase one-half of the NSR for $1,000,000 at any time.
The transaction is arm's length.
Further information can be found in the Company's news releases dated October 27, 2016 and January 19, 2017.
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