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Resolve Ventures Inc. Announces Property Option Agreement
VANCOUVER, BC / ACCESSWIRE / March 30, 2021 / Resolve Ventures Inc. ("Resolve" or the "...
About this update from Atomic Minerals Corporation
[{"type":"text","content":"Resolve Ventures Inc. Announces Property Option AgreementVANCOUVER, BC / ACCESSWIRE / March 30, 2021 / Resolve Ventures Inc. (\"Resolve\" or the \"Company\") (TSXV:RSV) is pleased to announce that it has entered into an Option Agreement (the \"Agreement\") with Island Time Exploration Ltd, Calderan Ventures Ltd., and Raymond Wladichuk (collectively the \"Vendors\") to earn a 100% ownership interest in the combined 10,050.4 Ha contiguous Gravity Property and the Jack White Property (collectively the \"Gravity Jack Property\") located in New Westminster Mining Division, near Boston Bar British Columbia, Canada.Under the terms of the Agreement, Resolve may acquire a 100% ownership interest in the Gravity Jack Property by issuing to the Vendors an aggregate of one million six hundred thousand (1,600,000) common shares in the capital of Resolve within 5 business days of TSX Venture approval (\"TSXV\") of the Agreement, completing $200,000 in exploration expenditures on the Gravity Jack Property by August 21, 2021, and, incurring an aggregate of $2,250,000 in additional exploration expenditures and issuing an aggregate of 2,500,000 common shares to the Vendors over a period of four years from the date of the Agreement.Upon completing the above noted commitments, all of which may be accelerated at the Company's discretion, Resolve will have earned a 100% interest in the Gravity Jack Property, at which time the Vendors will transfer title of the Gravity Jack Property to Resolve. Island Time Exploration Ltd. and Raymond Wladichuk will each retain a 2% net smelter return royalty (\"NSR\") (4% total) on all future metal production which the Company may, at its sole option, purchase 1% from either of the Vendors for $1,000,000 each.The Agreement is subject to completing a satisfactory 60-day due diligence review, a National Instrument 43-101 report on the Gravity Jack Property, and the necessary approvals from the TSXV. Any securities issued in connection with the transaction will be subject to applicable statutory hold periods for a period of four months from the date of issuance.About the Gravity Jack PropertyGravity Jack Property is located in the New Westminster Mining Division, and is approximately 13km northeast of Boston Bar, British Columbia, Canada. The property surface area totals 10,050.4 hectares (Ha). The property is prospectiv...