MARGARET LAKE DIAMONDS INC. ("DIA")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 26, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Mineral Property Transfer Agreement dated July 6, 2015 (the "Agreement") between Margaret Lake Diamonds Inc. (the Company") and Margaret Lake Diamonds Ltd ("MLD"), whereby the Company will acquire the remaining 40% interest is does not already own of the Margaret Lake Diamond Property in the Northwest Territories, Canada, (the "Property").
In consideration of the agreement, the company will issue to MLD:
* 4,500,000 common shares of the Company ("Consideration Shares") on closing of the transaction
* 1,500,000 common shares of the Company ("Consideration Shares") on closing Dec 22, 2016
* 1,000,000 common shares of the Company ("Milestone Shares") when the Company completes a bulk sample that allows a statistically meaningful independent evaluation of the diamond population contained in a deposit on any part of the Property
Further information on the Transaction is available in the company's news releases on SEDAR dated July 13, and Sept 26, 2016.
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Margaret Lake Diamond Ltd.
Mark Thompson Y 2,756,600
CASH SHARES WORK EXPENDITURES
Margaret Lake Diamond Ltd. (MLD) $0 7,000,000 $0
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