NEX COMPANIES
GALENA INTERNATIONAL RESOURCES INC. ("GTO.H")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: July 18, 2016
NEX Company
TSX Venture Exchange has accepted for filing an assignment agreement dated June 24, 2016 (the 'Agreement') between the Company and R.H. McMillan Ltd. ("RHM") and MNJA Holdings Inc. ("MNJA") (Mark Ashcroft). Pursuant to the terms of the Agreement, MNJA will assign its right to the Company to acquire a 100% interest in the Lipton Property (the 'Property') from RHM. By way of consideration, the Company will make cash payments totalling $1,000,000 over a ten year period to RHM. As consideration for assigning the option to the Company, MNJA will receive 500,000 shares of the Company. The Property is subject to a 2% NSR in favour of RHM. The Agreement was negotiated at arm's length prior to Mark Ashcroft's appointment to the board of directors of the Company.
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
MNJA Holdings Inc. (Mark Ashcroft) Y 500,000
Please refer to the Company's news release dated June 27, 2016 for further details.
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