SILVER RANGE RESOURCES LTD. ("SNG")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 12, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a property option agreement dated September 6, 2017 (the 'Agreement') between the Company and GGL Resources Corp. (the 'Optionor'). Pursuant to the terms of the Agreement, the Company may acquire a 100% interest in certain mineral properties in the Providence Greenstone Belt Project Area in the Northwest Territories, Canada (the 'Property'), subject to the Optionor retaining rights in relation to the exploration and future development of diamond-bearing rocks in the Property. Consideration consists of an initial payment of $33,200 and the issuance of 1,000,000 shares at a deemed price of $0.15 per share. The Agreement further provides for certain exploration and work commitments, and the Company will make a one-time payment of $1,000,000 to the Optionor upon completion of a positive PEA relating to a deposit located within the Property. The Optionor will also retain a 1% NSR, of which 0.5% may be repurchased for $1,000,000.
The transaction is arm's length in nature and there are no finder's fees payable.
Please refer to the Company's news releases dated August 2, 2017 and September 11, 2017 for further details.
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