GRAY ROCK RESOURCES LTD. ("GRK")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 19, 2018
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the property transfer and settlement agreement (the "Agreement") dated April 12, 2018 between the Company and DeCoors Mining Corp. ("DeCoors") whereby the Company has terminated the acquisition of the Surprise Lake property and other non-core properties consisting of 64 claims (the "Property") that were part of a 2016 property purchase agreement (the "2016 Property Purchase Agreement"). The 2016 Property Purchase Agreement allowed the Company to acquire the Property by making staged share payments of the Company totaling 4 million common shares and a cash payment of $30,000. In consideration for the Agreement, the Company will receive 3.2 million shares of the Company that were issued and subject to a voluntary pooling agreement for cancellation and 200,000 common shares of Garibaldi Resources Inc. (GGI:TSXV).
The transaction was considered non-arm's length in nature as two of the directors of the Company were also directors of DeCoors. There were no finder's fees on the transaction.
For additional information, please refer to the Company's news releases dated April 17, 2018 and June 15, 2018.
Insider / Pro Group Participation: Nil
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