ENERGOLD DRILLING CORP. ("EGD")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 9, 2016
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation relating to a Share Purchase Agreement (the "Agreement") dated March 4, 2016 between an arm's length party (the "Vendor") and Energold Drilling Corp. (the "Company"). Pursuant to the Agreement, the Company has acquired all the issued and outstanding shares of K&D Hamel Holdings Ltd., which is a horizontal directional driller servicing the telecommunications, water, sewage, hydro and oil and gas markets in central Canada.
In consideration the Company shall pay an aggregate of up to $5,908,000 over a three year period. The Company may pay an additional of up to $531,666 per year for the three year period as performance incentive based on certain growth metrics.
Further, the Company shall pay finders' fees of approximately $120,000 upon closing plus up to an additional $8,000 per year over the three year period to Osprey Capital Partners Inc.
For more information, refer to the Company's news releases dated March 7, 2016.
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