GOLDEN PREDATOR MINING CORP. ("GPY")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 7, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing Mining Lease and Sublease Agreement (the Agreement") dated August 1, 2014 between the Company and Platoro West Inc. ("Platoro") regarding the Castle West property, Nevada (the "Property"). The Property comprises 74 unpatented claims and two subleases of an additional 10 claims.
In order to acquire the Property, the Company must pay US$175,000 cash in staged payments over 6 years with annual payments of US$35,000 thereafter. In addition, the Company will pay a total of US$49,000 cash to Underlying Lessor 1 ("Lessor 1") over 4 years with annual payments of US$21,000 thereafter, and pay a total of $23,500 cash to Underlying Lessor 2 ("Lessor 2") over 3 years with annual payments of US$15,000.
Platoro retains a sliding-scale net smelter royalty ("NSR") of 2.0% to 5.0%. Two underlying lessors have NSR's from 2% to 3% on podrtions of the property. Platoro's NSR will be reduced by royalty payments to the underlying lessors to a floor of 0.5%.
The transaction is non-arms length.
For further information, please see the Company's news releases dated August 25, 2014 and December 31, 2015.
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