Emgold Obtains Exchange Approval for Amended Option Agreement and Exercises Options to Acquire 100% Interest in the Troilus North Property, QC

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[{"type":"text","content":"Emgold Obtains Exchange Approval for Amended Option Agreement and Exercises Options to Acquire 100% Interest in the Troilus North Property, QC(via TheNewswire)\n\n \n \n\nVancouver, British Columbia / TheNewswire / November 15, 2018 - Emgold Mining Corporation (TSX-V: EMR) (\"Emgold\") or the \"Company\") announces it has received TSX Venture Exchange (the \"Exchange\") approval for the closing of an amendment (the \"Amendment\") to the option agreement (the \"Option Agreement\") previously entered into with Chimata Gold Corporation (CSE : CAT) (\"Chimata\") as announced by press release on June 27, 2018. The Option Agreement grants Emgold two options to acquire up to a 100% interest in the Troilus North Property (the \"Property\") from Chimata. Details of the Amendment were announced by Emgold in an August 13, 2018 press release. Emgold also announces it has accelerated and completed all requirements of the Option Agreement and of the Amendment, closing the acquisition of the 100% interest in the Property from Chimata.\n\n\n\nDetails on the Option Agreement and Amendment\n\n\n\nThe Option Agreement and Amendment provides that Emgold shall have the exclusive right and first option (the \"First Option\") to acquire an 80% interest in the Property over a two year period (the \"Transaction\") for consideration of common shares the Company (the \"Common Shares\"), to be issued to Chimata as shown in Table 1 below, completion of C$300,000 in exploration expenditures to be incurred within two years of closing of the Transaction, and a cash payment of C$200,000.\n\n\n\nTable 1\n\n\n\nShare, Cash, and Exploration Expenditure Requirements\n\n\n\nfor First Option, Troilus North Property\n\n\n\nDate\n\n\n\n\nCommon Shares\n\n\n\n\nCash\n\n\n\n\nExploration Expenditures\n\n\n\n\nUpon Closing of Transaction, June 27, 2018\n\n\n\n\n2,000,000 (issued)\n\n\n \n\n$0\n\n\n \n\nN/A\n\n\n\n\nUpon approval of the Amendment\n\n\n\n\nNil\n\n\n \n\n$200,000\n\n\n \n\nN/A\n\n\n\n\nFirst Anniversary of the Closing Date\n\n\n\n\n2,000,000\n\n\n \n\n$0\n\n\n \n\nN/A\n\n\n\n\nSecond Anniversary of the Closing Date\n\n\n\n\n1,000,000\n\n\n \n\n$0\n\n\n \n\nC$300,000\n\n\n\n\nTotal First Option\n\n\n\n\n5,000,000\n\n\n\n\nC$200,000\n\n\n\n\n$C300,000\n\n\n\n\nUpon completing the First Option, Emgold would have a further option (the \"Second Option\") to acqui...

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