GESPEG COPPER RESOURCES INC. ("GCR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 2, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation pertaining to a mineral option agreement dated effective August 27, 2013 between Gespeg Copper Resources Inc. (the 'Company') and the optionors, Daniel Lepage and Pierre Ross, pursuant to which the Company may acquire a 100% undivided interest in 52 mineral claims on the Gaspe Peninsula, Quebec, known as the Port Daniel property. In consideration the Company will pay a total of $3,000, issue a total of 2,000,000 shares in stages over a four year period, and conduct exploration work totalling $1,825,000 on or before January 1, 2018, as follows:
CASH SHARES WORK EXPENDITURES
Year 1 $3,000 500,000 $225,000 (on or before January 1, 2015)
Year 2 nil 500,000 $350,000 (on or before January 1, 2016)
Year 3 nil 500,000 $450,000 (on or before January 1, 2017)
Year 4 nil 500,000 $750,000 (on or before January 1, 2018)
The property is subject to a 2% net smelter return royalty, of which the Company may purchase 1% for $1,000,000.
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