STRIKE GRAPHITE CORP. ("SRK")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: October 6, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing documentation pertaining to two property agreements, each dated May 20, 2014. The first agreement ('First Agreement'), in respect of the Sask Craton property, was among Strike Graphite Corp. (the 'Company'), Kalt Industries Ltd., Ryan Kalt, DG Resources Management Ltd., Jody Dahrouge and Zimtu Capital Corp (collectively, the 'First Vendors'). The second agreement ('Second Agreement') in respect of the Sask Craton North property, was among the Company, Kalt Industries Ltd., Berthold Kalt and Chen Fong (collectively, the 'Second Vendors').
First Agreement
Consideration for an 80% interest in the Sask Craton property is as follows:
* 1,000,000 common shares, issued immediately upon closing;
* 1,000,000 share purchase warrants, each warrant exercisable into one common share of
the Company at an exercise price of $0.25 per share for a period of 3 years from the
date of issue. The warrants were issued immediately upon closing;
* Cash payments as follows:
o $138,257.07 due November 1, 2014;
o $138,257.07 due April 30, 2014; and
o $276,514.16 due February 1, 2016.
* The First Vendors shall retain a 20% carried interest up to, but not including, mine
construction, as well as a 3% gross royalty.
Second Agreement
Consideration for an 80% interest in the Sask Craton North property is as follows:
* 449,145 common shares, issued immediately upon closing;
* The Second Vendors shall retain a 20% carried interest up to, but not including, mine
construction, and a 3% gross royalty.
Insider / Pro Group Participation: In connection with the proposed debt settlement announced May 26, 2014, the Company is seeking shareholder approval for the creation of two new Control Persons, being Ryan Kalt and DG Resource Management Ltd., at its next shareholder meeting.
For additional information please refer to the Company's news releases dated May 26, 2014 and September 29, 2014.
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