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Azimut and SOQUEM Sign Final Strategic Alliance Agreement
Azimut and SOQUEM Sign Final Strategic Alliance Agreement Canada NewsWire LONGUE...
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[{"type":"text","content":"\n\n\n\nAzimut and SOQUEM Sign Final Strategic Alliance Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONGUEUIL, QC and VAL-D'OR, QC, May 15, 2019\n\n\n\nSymbol: AZM.TSX Venture \n LONGUEUIL, QC and VAL-D'OR, QC, May 15, 2019 /CNW Telbec/ - Azimut Exploration Inc. (\"Azimut\" or the \"Company\") (TSXV: AZM) and SOQUEM Inc. (\"SOQUEM\"), a subsidiary of Ressources Québec, are pleased to announce the signing of the final agreement of their expanded Strategic Alliance (the \"Alliance\"), following the execution of a letter agreement previously announced on February 25, 2019.\nThe Alliance comprises nine (9) gold and copper-gold major properties totalling 7,149 claims with a surface area of 3,277 square kilometres. The properties are located in the prospective Eeyou Istchee James Bay (\"James Bay\") and Nunavik regions of Quebec. These regions are part of the Plan Nord strategy implemented by the Government of Quebec.\nThe Alliance represents a major change in the activity level of both companies and will combine their strengths, specifically Azimut's big data analytics expertise in mineral exploration and SOQUEM's mining exploration and development expertise. A key component of the Alliance will be the continued development of close ties with local communities in the Nunavik and James Bay regions. The Alliance builds on the technical success of the original James Bay strategic agreement in 2016.\nHIGHLIGHTS OF THE TRANSACTION (see Figure 1)\nNUNAVIK: The agreement covers three major copper-gold properties (Rex-Duquet, Rex South and Nantais). The objective is to unlock the potential of known district-scale polymetallic targets. First Option ($16 million for 50%): SOQUEM will have the option to earn an initial 50% interest in the Rex-Duquet, Rex South and Nantais properties by investing $16 million in exploration work over a period of four (4) years, the first two (2) years being a firm commitment of $4 million each year. Second Option (...