Business
Stuhini Exploration Ltd. Receives TSX-V Approval for Ruby Creek Property
VANCOUVER, Dec. 31, 2019 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSX‑V: STU) is pleased to announce that it has received TSX Venture Exch
About this update from Eranova Metals Inc.
[{"type":"text","content":" VANCOUVER, Dec. 31, 2019 /CNW/ - Stuhini Exploration Ltd. (\"Stuhini\" or the \"Company\") (TSX‑V: STU) is pleased to announce that it has received TSX Venture Exchange (the \"Exchange\") approval of the option agreement (the \"Agreement\") with Global Drilling Solutions Inc. (\"Global Drilling\"). Pursuant to the Agreement, Stuhini has the option to acquire a 100% interest in Global Drilling's Ruby Creek Property (the \"Property\"), located in north western British Columbia, Canada (the \"Option\") as further disclosed in the Company's news releases dated July 30, 2019 and November 20, 2019. Pursuant to the Agreement, Stuhini can earn a 100% interest in the Property by issuing up to 7,300,000 common shares and making cash payments of up to $1,060,000 over a four year term to exercise the Option. Upon obtaining Exchange approval of the Agreement, the Company issued 800,000 common shares to Global Drilling in satisfaction of the Company's only committed payment under the Agreement. The balance of the share issuances and the cash payments are all at the Company's election should it wish to maintain the Option after the first year of the option term. About Stuhini Exploration Ltd.: Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties with its primary focus on the Metla Property located in northwestern British Columbia, Canada, approximately 150 kilometres south of the town of Atlin. Forward-Looking Statements This news release contains \"forward‐looking information\" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the Option and the exercise of the Option. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market ...