GOLDSTRIKE RESOURCES LTD ("GSR")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement, Private Placement-Non-Brokered
BULLETIN DATE: April 25, 2017
TSX Venture Tier 2 Company
Disposition
TSX Venture Exchange has accepted for filing an earning and venture agreement (the
"Agreement") dated April 24, 2017 between Goldstrike Resources Ltd (the "Company") and Newmont Canada FN Holdings ULC ("Newmont") and Newmont Mining Corporation ("Newmont Parent") pursuant to which Newmont can acquire up to a 75% interest in the Company's Plateau Property (the "Property") as follows:
* Phase 1: To earn a 51% interest in the Property, Newmont must (i) make aggregate cash payments of US$6,000,000, (ii) incur a minimum of US$13,000,000 in exploration expenditures on the Property, and (iii) complete an NI 43-101 resource estimate;
* Phase 2: If Newmont elects to proceed with Phase 2, then to earn an additional 24% interest, Newmont must incur a minimum of an additional US$16,000,000 in exploration expenditures by December 15, 2017, and complete a feasibility study.
If Newmont completes Phase 1 but does not complete Phase 2, its interest will return to 49%. After completion of Phase 2, Newmont must fund all expenditures on the Property, until it delivers a program and budget for the development of the first mine or mines on the Property. Newmont will be reimbursed for such expenditures out of 80% of the Company's share of net proceeds from production from the Property.
Private Placement:
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 6, 2017:
Number of Shares: 12,705,715 shares
Purchase Price: $0.4742 per share
Warrants: 12,705,715 share purchase warrants to purchase 12,705,715 shares
Warrant Exercise Price: $0.75 for a four year period, subject to an accelerated expiry
Number of Placees: 1 Placee
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
For further information, please see the Company's news releases dated March 6, 2017 and April 25, 2017.
________________________________________
|
|
