MINECORP ENERGY LTD ("MCE")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: December 13, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Property Option Agreement dated June 24, 2016 between the Company and Drillsteel Resources Ltd and Powder Box Resources, LLC ( jointly the "Optionors"), whereby the Company has the exclusive right and option to acquire 100% interest in the Good Hope Property , Tuscarora Mountains, Elko County, Nevada ( the "Property")
The Company has closed the transaction on Dec 9, 2016.
As consideration under the agreement to earn a 100% interest in the Project, subject to a 5% net smelter royalty in favour of the Optionors, the Company is to issue a total of 1,000,000 shares over 4 years of which 200,000 were issued on closing, pay $100,000 in cash after 2 years, and incur $2,000,000 in exploration expenditures over 5 years, or pay cash in lieu thereof.
Further information on the transaction is available in the Company's news releases on SEDAR dated June 24, 2016 and Dec 9, 2016.
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Terry Heard Y 1,000,000
CASH SHARES WORK EXPENDITURES
Terry Heard $100,000 1,000,000 $2,000,000
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