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Bathurst Metals Corp. Options McGregor Lake and Speers Lake Properties and Grants Incentive Stock Options
(TheNewswire) Vancouver, British Columbia – TheNewswire - (March 28, 2023) &...
About this update from Bathurst Metals Corp
[{"type":"text","content":"Bathurst Metals Corp. Options McGregor Lake and Speers Lake Properties and Grants Incentive Stock Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n (March 28, 2023) – Bathurst Metal Corp.\n(TSXV:\n \n \n BMV\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:BMVVF)\n(“\n \n \n Bathurst\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n Vancouver, British Columbia\n \n \n –\n \n \n Bathurst Metals Corp. today\nannounced it has entered into an Option Agreement with an\narm’s-length purchaser SPC Nickel Corp. (“\n \n \n SPC\n \n \n ”) granting an\noption to SPC to acquire a 100% undivided interest in the Company’s\nMcGregor Lake and Speers Lake mineral properties\n \n \n (collectively the \"\n \n \n Property\n \n \n \") located in the Nunavut,\nCanada.\n \n \n \n \n Terms of the Option Agreement provide for the payment\nby SPC of an aggregate of $1,350,000 over three years, including a\nfirm commitment of $300,000 upon signing the Option Agreement.  SPC\nwill also issue to the Company an aggregate of 7,500,000 common shares\nof SPC over three years, including a firm commitment of 2,500,000\ncommon shares issued upon signing the Option Agreement. SPC will have\nthe option to accelerate all or any cash and/or share payments to the\nCompany as well as the option to pay cash in lieu of shares.  The\nCompany will retain a one (1.0%) percent net smelter return royalty on\ncommercial production from the Property should SPC complete all of the\nrequired cash and share issuances under the Option Agreement.\nAdditionally, SPC may purchase one-half of one percent (0.5%) at any\ntime before commencement of commercial production for\n$5,000,000.\n \n \n \n \n The Option Agreement is subject to regulatory approval\nand all terms are subject to and in accordance with the rules and\nregulations of the TSX Venture Exchange.\n \n \n \n \n Lorne Warner (P. Geo), President of Bathurst\ncommented “The optioning of our McGregor Lake Project further\nconfirms our belief in the Muskox Intrusion’s potential to host\nworld class size Copper-Nickel-Cobalt- Palladium-Platinum-Gold\ndeposits. Bathurst will continue to maintains a 100%...