ALSET ENERGY CORP. ("ION")
BULLETIN TYPE: Property-Asset or Share Acquisition Agreement
BULLETIN DATE: July 21, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing a letter of intent between Alset Energy Corp. ("Alset") and MKG Mining Mexico S.A. de C.V. ("MKG"), Orlando Ivan Lopez Garcia and Brian Robertson dated May 6, 2016 (the "Agreement"). Under the Agreement, Alset has the right to acquire from MKG a 100% interest in 11 mineral concessions located in Zacatecas and San Luis Potosi, Mexico (the "Property") for the payment of outstanding taxes of US$110,000 owing on the Property and the option payments of US$210,000 as follows:
Year 1: US$20,000
Year 2: US$25,000
Year 3: US$30,000
Year 4: US$35,000
Year 5: US$40,000
Year 6: US$60,000
There is a 2% NSR in favour of MKG of which 1% can be purchased by Alset for US$250,000 and a 0.25% NSR in favour of Brian Robertson.
Alset will pay Brian Robertson a cash finder's fee of 10% of the value of the tax payment and the option payments made.
Insider / Pro Group Participation: Nil.
For further information please refer to Alset's news release dated May 24, 2016 which is available under Alset's profile on SEDAR.
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