RIVERSIDE RESOURCES INC. ("RRI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: February 28, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation the following:
An option agreement dated January 16, 2017 between Riverside Resources Inc. (the 'Company') and Gunpoint Exploration Ltd. and its wholly owned Mexican subsidiary, Minera CJ Gold S.A. de C.V., pursuant to which the Company can acquire a 100% interest in three concessions totalling 793.5 hectares in northeastern Sonora, Mexico known as the La Cecilia Margarita Concessions. In consideration the Company will pay a total of $250,000 and issue a total of 1,000,000 shares in stages as follows:
CASH SHARES WORK EXPENDITURES
Initial consideration $25,000 100,000 nil
On or before first anniversary $25,000 200,000 nil
On or before second anniversary $75,000 300,000 nil
On or before third anniversary $125,000 400,000 nil
The acquisition is subject to a 1% net smelter return royalty in favour of the Servicio Geologico Mexicano.
A sale and purchase agreement dated January 26, 2017 between the Company and Millrock Resources Ltd. and its wholly owned subsidiary, Recursos Millrock S. de R.L. de C.V., pursuant to which the Company may acquire one concession of 103.7 hectares, located in northeastern Sonora, Mexico, known as the Violeta Concession. In consideration, the Company will pay $10,000 and issue 100,000 shares. The acquisition is subject to a net smelter return royalty of 1.5% of gold and 1% on other metals in favour or a previous owner, and a 1% net smelter return royalty in favour of Millrock.
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