TSX VENTURE COMPANIES
ARCUS DEVELOPMENT GROUP INC. ("ADG")
BULLETIN TYPE: Property-Asset or Share Acquisition Agreement
BULLETIN DATE: August 22, 2016
TSX Venture Tier 2 Company
The TSX Venture Exchange Inc. (the "Exchange") has accepted documentation in connection with a property purchase agreement between Arcus Development Group Inc. ("Arcus") and ATAC Resources Ltd. ("ATAC") under which Arcus will acquire ATAC's 50% interest in the Dawson Gold Joint Venture (the "Joint Venture"). Formed in 2012, the Joint Venture holds four mineral properties, namely the Dan Man, Touleary, Green Gulch and Shamrock properties, all located in the White Gold District of Yukon Territory.
As payment for ATAC's 50% interest in the Joint Venture, Arcus will issue to ATAC 10,869,910 common shares of Arcus and 5,000,000 share purchase warrants (the "Warrants"). The Warrants will entitle ATAC to purchase an additional 5,000,000 common shares of Arcus at a price of $0.20 per share at any time within five years of the closing of the transaction. ATAC will also retain a 1% net smelter return royalty interest in any future production from any of the four properties.
For further information see Arcus' news release dated August 2, 2016 which is available under its profile on SEDAR.
Insider / Pro Group Participation: Ian Talbot is a director and officer of Arcus and an officer of ATAC.
________________________________________
|
|
