WEST KIRKLAND MINING INC. ("WKM")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 23, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing documentation pertaining to an agreement (the 'Agreement'), dated January 24, 2014 among West Kirkland Mining Inc. (the 'Company') and Allied Nevada Gold Corp. ('Allied Gold'). Pursuant to the Agreement, the Company has the right to acquire up to a 100% interest in the Hasbrouck and Three Hills properties (the "Properties'), located in Nevada, USA.
Consideration for the Properties is as follows:
CASH
On signing of Agreement US$500,000 (paid)
On or before April 24, 2014 US$19,500,000
On or before October 23, 2016 US$10,000,000
In terms of the Agreement, cash payments of US$20,000,000 will enable the Company to acquire a 75% interest in the Properties. The additional US$10,000,000 payment (the 'Final Payment') will enable the Company to acquire the remaining 25% interest in the Properties. Under the terms of the Agreement, Allied Gold has the right to decline the Final Payment in which case the Properties will be transferred into a joint venture (the 'Joint Venture') with the Company retaining a 75% interest in the Joint Venture and Allied Gold retaining a 25% interest in the Joint Venture.
Insider / Pro Group Participation: N/A
For additional information please refer to the Company's news releases dated January 27, 2014 and April 17, 2014.
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