BULLETIN V2024-0204
XPLORE RESOURCES CORP. ("XPLR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 17, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing the following three agreements:
An option agreement dated December 22, 2023 between Xplore Resources Corp. (the 'Company'), as optionee, and two arm's length parties, as optionors, whereby the Company will acquire a 100% interest in 11 unpatented mineral claims located in the Red Lake Mining District, Ontario, known as the Root Falls Property. Total consideration consists of $87,000 in staged cash payments, and 600,000 shares to be issued upon Exchange approval. In addition, there is a 1.5% net smelter return relating to the acquisition. The Company may, at any time, purchase 0.5% of the net smelter return for $600,000 in order to reduce the total net smelter return to 1.0%.
An Option Agreement dated December 22, 2023 between the Company, as optionee, and three arm's length parties, as optionors, whereby the Company will acquire a 100% interest in 18 unpatented mineral claims located in the Red Lake Mining District, Ontario, known as Cathy Creek Property, Aerial Lake Property and Raggy Creek Property.Total consideration consists of $204,000 in staged cash payments, and 900,000 shares issued upon Exchange approval. In addition, there is a 1.5% net smelter return relating to the acquisition. The Company may, at any time, purchase 0.5% of the net smelter return for $500,000 in order to reduce the total net smelter return to 1.0%.
An option agreement dated December 22, 2023 between the Company, as optionee, and three arm's length parties, as optionors, whereby the Company will acquire a 100% interest in six unpatented mineral claims located in the Red Lake Mining District, Ontario, known as Root North Property. Total consideration consists of $75,000 in staged cash payments, and 300,000 shares issued upon Exchange approval. In addition, there is a 1.5% net smelter return relating to the acquisition. The Company may, at any time, purchase 0.5% of the net smelter return for $500,000 in order to reduce the total net smelter return to 1.0%.
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