Business
Belmont Completes Option Agreement For 100% Ownership of Come By Chance Copper-Gold Porphyry Project
(TheNewswire) Vancouver, B.C. Cana d a – TheNewswi...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Completes Option Agreement For 100% Ownership of Come By Chance Copper-Gold Porphyry Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver,\n \n \n B.C.\n \n \n Cana\n \n \n d\n \n \n a –\n \n \n TheNewswire -\n \n \n June\n7,\n \n \n 2\n \n \n 022;\n \n \n Belmont\n \n \n Resourc\n \n \n e\n \n \n s\n \n \n Inc.\n \n \n (“Belmont”),\n \n \n (or\n \n \n the\n \n \n “Compa\n \n \n n\n \n \n y”), (TS\n \n \n X\n \n \n V:BEA\n \n \n )\n \n \n ;\n \n \n (\n \n \n FSE:L3L2)\n \n \n is\n \n \n ple\n \n \n a\n \n \n sed\n \n \n to\n \n \n anno\n \n \n u\n \n \n nce\n \n \n that\n \n \n it\n \n \n h\n \n \n as\n \n \n c\n \n \n o\n \n \n mplet\n \n \n e\n \n \n d\n \n \n the\n \n \n terms\n \n \n of\n \n \n the\n \n \n option\nagreement\n \n \n for\n \n \n acquisi\n \n \n t\n \n \n i\n \n \n o\n \n \n n\n \n \n of\n \n \n the\n \n \n Come By\nChance (CBC) copper-\n \n \n gold\n \n \n porphyry\n \n \n project\n \n \n sig\n \n \n n\n \n \n ed\n \n \n in\n \n \n May\n \n \n 2\n \n \n 7,\n \n \n 2020.\n \n \n The\n \n \n Compa\n \n \n n\n \n \n y now\n \n \n holds\n \n \n a\n \n \n 100%\n \n \n inte\n \n \n r\n \n \n est\n \n \n in\n \n \n the\n \n \n p\n \n \n r\n \n \n operty,\n \n \n subject\n \n \n to\n \n \n a\n \n \n NSR\n \n \n of\n \n \n 1.5%\n \n \n which\n \n \n the\n \n \n c\n \n \n o\n \n \n mpany\n \n \n can\n \n \n reduce\n \n \n to\n \n \n 0.5%\n \n \n with\n \n \n a\n \n \n payment\n \n \n of\n \n \n Cdn$1,000,000\n \n \n to\n \n \n the\n \n \n vendors.\n \n \n \n \n Original Terms of the Option\nAgreement\n \n \n \n \n The claims have been optioned for 100% from a\nnon-related third party (the “Vendor”) under the following\nterms:\n \n \n \n \n (a) $7,500 cash payment on the Approval Date;\n \n \n \n \n (b) the issuance of common shares in the capital of the\nCompany (the \"Shares\"), as set out below:\n \n \n \n \n i.        100,000 Shares on the Approval\nDate;\n \n \n \n \n ii.        200,000 Shares\non the one year anniversary of the Agreement Date;\n \n \n \n \n iii.        200,000 Shares on the second year\nanniversary of the Agreement Date;\n \n \n \n \n (c ) the grant of a 1.5%  NSR Royalty with the option\nfor the Company to buy back\n \n \n \n \n 1% for $1M Cdn.\n \n \n \n \n Amendm...