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Apex Resources Sells Remaining Stake in the Kena Property to West Mining
(TheNewswire) Apex Resources Inc. - TheNewswire - April 12, 2021, - (...
About this update from Apex Resources Inc.
[{"type":"text","content":"Apex Resources Sells Remaining Stake in the Kena Property to West Mining\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Apex Resources Inc. -\n \n \n TheNewswire\n- April 12, 2021, -\n \n \n (\"Apex”) (TSXV:APX)\n \n \n (OTC :SLMLF)\n \n \n is pleased\nto announce that subject to regulatory approval, it has entered into\nan asset purchase agreement (the “Agreement”) on April 7, 2021\nwith West Mining Corp. (“West”) for West to acquire Apex’s\nremaining 20% interest in the\n \n \n Kena and Daylight\nGold-Copper Properties (the \"Project\") in British Columbia\nin exchange for:\n \n \n aggregate cash payments of\n$300,000; an aggregate of 1,500,000 common shares of West (each, a\n“Share”); and West granting Apex a 1.0% net smelter returns\nroyalty on the Project, with West having the right to purchase the NSR\nfor $500,000 at any time prior to the commencement of commercial\nproduction on the Project.\n \n \n \n \n Closing of the Agreement is subject to receipt of\napproval of the Canadian Securities Exchange (if and required) by West\nand of the TSX Venture Exchange by Apex.  Apex has received a\n$100,000 cash payment on execution of the Agreement, with the\nremaining $200,000 due upon regulatory approval.   West will issue\nthe Shares to Apex on the closing date as follows:  375,000 Shares\nwill be subject to a four month hold period; additional 375,000 Shares\nwill be subject to a four month hold period and a voluntary six month\nescrow period; and additional 750,000 shares will be subject to a four\nmonth hold period and a voluntary 12 month escrow period.\n \n \n \n The Project covers approximately 8,000 hectares of mineral claims\nlocated near Nelson, British Columbia. The Kena property is comprised\nof the Kena Gold, Gold Mountain and Copper King showings together with\nthe historic Euphrates and Gold Cup gold mines. The adjacent Daylight\nproperty is comprised of the historic Daylight, Starlight, Victoria\nand Great Eastern gold mines.\n \n \n Apex had previously entered into an option agreement (“the\nOption”) (see Apex’s News Release of September 26, 2016) with\n1994854 Alberta Ltd. (“1994854”), a wholly owned subsidiary of\nBoundary Gold and Copper Mining Ltd. (“Boundary”),  whereby\n1994854...