Business
Eagle Plains Clarifies Saskatchewan Gold Royalty Portfolio Increase News Release
CRANBROOK, BC / ACCESS Newswire / August 20, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OT...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains Clarifies Saskatchewan Gold Royalty Portfolio Increase News ReleaseCRANBROOK, BC / ACCESS Newswire / August 20, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) (\"EPL\" or \"Eagle Plains\") would like to amend its News Release dated August 12, 2025. The purchase and sale agreement with Trident Resources Corp. (TSX-V:ROCK )(OTCQB:TRDTF) (\"Trident \") on four individual non-core claim blocks in Saskatchewan totalling 16,245 ha, is a non-arms length agreement. The projects are located in the La Ronge Gold Belt, and are contiguous with Trident's extensive land holdings in the area.Agreement termsUnder the terms of the agreement, Trident will purchase a 100% interest in the properties for a cash consideration of $14,730, with EPL retaining a 2% Net Smelter royalty on all of claims.The agreement is not an arm's-length transaction, as such term is defined in the TSX Venture Exchange's Policy 1.1, and therefore constituted a related party transaction, as such term is defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Tim Termuende is a director and officer of Eagle Plains, and is also a director of Trident.In respect of the requirements of MI 61-101 and exchange Policy 5.9, the company relied on the exemptions from the formal valuation and minority approval required under MI 61-101. The company was exempt from the formal valuation requirement of MI 61-101 in reliance of sections 5.5(b) as no securities of the company are listed on the specified markets outlined therein. Additionally, the company was exempt from minority shareholder approval of MI 61-101 in reliance of Section 5.7(1)(a) (fair market value not more than 25 per cent of the company's market capitalization).In accordance with the exchange Policy 5.3, the agreement constitutes a reviewable transaction, as such transaction involves a non-arm's-length party.The agreement is subject to acceptance by the TSX Venture Exchange.Qualified PersonsCharles C. Downie, P.Geo., a \"qualified person\" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and an officer and director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.About Eagle Plains ResourcesBased in Cranbrook, B.C., Eagle Plains is a well-funded, pro...