JAXON MINERALS INC. ("JAX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: February 26, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an option agreement dated December 23, 2015 (the 'Agreement') between the Company and Brian Johnston (the 'Optionor'). Pursuant to the terms of the Agreement, the Company will acquire a 50% interest in the Hot Bath Property in British Columbia (the 'Property'). By way of consideration, the Company will issue 6,750,000 shares at a deemed price of 0.05 per share over a two year period. 3,000,000 shares will be issued upon Exchange approval of the Agreement. The issuance of any further shares is subject to the prior approval of the Exchange. The Property is subject to a 2% NSR in favour of the Optionor, of which the Company may repurchase 1% for $1,000,000.
A finder's fee of 300,000 shares is payable to Ted Burylo.
Please refer to the Company's news releases dated November 13, 2015 and December 23, 2015 for further details.
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