SALAZAR RESOURCES LTD. ("SRL")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: September 28, 2017
TSX Venture Tier 1 Company
Property-Asset or Share Disposition Agreement:
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing an agreement dated September 12, 2017, (the "Agreement") between Salazar Resources Ltd. (the "Company") and Adventus Zinc Corporation ("Adventus").
Pursuant to the Agreement, the Company has granted to Adventus an option to acquire a 75% indirect interest in the Company's Curipamba project, Ecuador (the "Property"), by incurring US$25,000,000 in expenditures on the Property over the next five (5) years.
During the option period, Adventus will pay to the Company a 10% management fee, with a prescribed minimum annual amount of US$350,000. In addition, Adventus will provide the Company with a US$250,000 per year advance until the achievement of commercial production, subject to a maximum cumulative total of US$1,500,000.
Insider / Pro Group Participation: Resource Capital Fund VI L.P is an Insider of both the Company and Adventus.
Please refer to the Company's news release dated September 14, 2017 for further information.
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