INDEPENDENCE GOLD CORP. ("IGO")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: July 4, 2016
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing a property earn-in and joint venture agreement dated June 30, 2016 (the 'Agreement') between the Company and Taku Gold Corporation (the 'Optionor'). Pursuant to the terms of the Agreement, the Company may acquire a 75% interest in the Rosebute Property (the 'Property'). By way of consideration, the Company will make cash payments totalling $295,000 and will issue 1,000,000 shares to the Optionor at a deemed price of $0.16 per share. The Company must also incur $2,000,000 of exploration expenditures on the Property. To earn the additional 25% interest in the property, the Company will pay an additional $500,000 in cash and issue an additional 1,000,000 shares to the Optionor. The Property is subject to a 1% NSR in favour of the Optionor, of which the Company may repurchase 0.5% for $500,000. The Property is also subject to an existing 2% NSR, of which 1% may be repurchased for $2,000,000.
Please refer to the Company's news release dated May 17, 2016 for further details.
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