ULTRA RESOURCES CORP. ("ULT")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: November 6, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange (the 'Exchange') has accepted for filing documentation pertaining to an agreement dated July 24, 2014 (the 'Agreement'), among Ultra Resources Corp. (the 'Company') and Goldbank Mining Corporation. (the 'Vendor'). Pursuant to the Agreement, the Company will have the right to acquire the Vendors 51% interest in the Buck Lake property (the 'Property'), located in Ontario.
Under the terms of the Agreement, consideration to acquire the 51% interest in the Property is 2,200,000 common shares payable on closing and the issuance of a $250,000 promissory note (the 'Note'). The Note is due on or before June 1, 2016, after which 12% interest will accrue on any unpaid amounts.
Insider / Pro Group Participation: Gwen Wegner is the Corporate Secretary of the Company and the Vendor. Kirk Shaw, Irvin Ridd and John Brydle, each Insiders of the Company, also hold common shares in the Vendor.
For additional information please refer to the Company's news releases dated July 24, 2014, and November 5, 2014.
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