FJORDLAND EXPLORATION INC. ("FEX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 9, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a property option agreement dated May 20, 2016 (the 'Agreement') between the Company and Canalaska Uranium Ltd. (the 'Optionor'). Pursuant to the terms of the Agreement, the Company will acquire a 100% interest in two claim groups in northwestern Athabasca Basin, Saskatchewan (the 'Property'). By way of consideration, the Company will make cash payments totalling $50,000 and will issue 6,000,000 shares at a deemed price of $0.06 per share. The Property is subject to a 4% gross overriding royalty ('GOR') for diamonds and a 2% net smelter returns royalty for other minerals in favour of the Optionor. The Company may repurchase up to 2% of the GOR for $500,000 for each 0.5%.
Please refer to the Company's news release dated May 24, 2016 for further details.
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