ELECTRA GOLD LTD. ("ELT")
BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE: March 19, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Amending Agreement dated January 31, 2014 to the Option Agreement dated June 6, 2012, as amended July 30, 2012, between Electra Gold Ltd. (the "Company") and Everton Resources Inc., as approved by TSX Venture Exchange Bulletin dated September 26, 2012. The Company has obtained an extension of time and adjustments of payments respecting it's Option to acquire a 100% interest in the Golden Ridge Property near Harrison Lake, British Columbia. The total number of shares payable has increased by 4,000,000, the total cash has decreased by $125,000 and total work expenditures have decreased by $50,000.
Total consideration is now as follows (bolded amounts have been paid):
CASH SHARES WORK EXPENDITURES
On Exchange Acceptance $25,000 2,000,000 $50,000 in the first year
First Anniversary of Exchange Bulletin nil 2,000,000 $50,000 in the second year
Second Anniversary of Exchange Bulletin $25,000 2,000,000 $50,000 in the third year
Third Anniversary of Exchange Bulletin $25,000 2,000,000 $150,000 in the fourth year
Fourth Anniversary of Exchange Bulletin $50,000 2,000,000 $100,000 in the fifth year
Fifth Anniversary of Exchange Bulletin $50,000 2,000,000 $nil
Sixth Anniversary of Exchange Bulletin $100,000 2,000,000 $nil
Seventh Anniversary of Exchange Bulletin $500,000 10,000,000 $nil
On completion of feasibility study $1,000,000 nil $nil
For further information on the above transaction please refer to the Company's news release dated March 14, 2014.
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