JAXON MINERALS INC. ("JAX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: October 26, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an option agreement dated October 7, 2016 (the 'Agreement') between the Company and CJL Enterprises Ltd. (Chris Warren, Loren Warren) (the 'Optionor'). Pursuant to the terms of the Agreement, the Company may acquire a 100% interest in the AG-ZN-Pb-Au Price Creek Property in British Columbia (the 'Property'). By way of consideration, the Company will make cash payments totalling $75,000 and will issue 500,000 shares at a deemed price of $0.075 per share. An additional 200,000 shares will be issued in the event of commercial production. The Property is subject to an advance royalty of $5,000 per year commencing in year five, and a 2% NSR in favour of the Optionor, which can be repurchased for $1,000,000 per 1%.
Please refer to the Company's news release dated September 28, 2016 for further details.
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