Property Transfers

 Property Transfers

  • Platinex will transfer its district scale Shining Tree gold mineral project located in the Shining Tree District of Ontario, consisting of 1,136 unpatented mining claims and one mining lease (the "Shining Tree Properties") to Goldco in consideration for receiving 75% of the issued and outstanding shares of Goldco Fancamp will transfer to Goldco (i) its Heenan Mallard gold properties located in the Swayze Greenstone gold belt adjacent to Côté Gold Deposit in Northern Ontario, consisting of 296 unpatented mining claims (the "Swayze

  •  Properties"); and (ii) its Dorothy Gold project located adjacent to Dynasty Gold’s Thundercloud Project in NW Ontario (the "Dorothy Properties"), in consideration for receiving 25% of the issued and outstanding shares of Goldco. Fancamp will have an option to increase its shareholding to 50% on the basis described below.

  • Fancamp will be granted a 1.0% net smelter returns royalty (the "NSR Royalty") in respect of the Swayze Properties and the Dorothy Properties, subject to a decrease to 0.5% NSR Royalty should Fancamp elect to exercise the Option (as described below) to acquire 50% of the issued and outstanding shares of Goldco.

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