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Berkwood Receives TSX Venture Exchange Approval for Quebec Lac Gueret East Graphite Property
(via Thenewswire.ca) TSX Venture Exchange Inc. (the "Exchange") has accepted for filing an ...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"\nBerkwood Receives TSX Venture Exchange Approval for Quebec Lac Gueret East Graphite Property\n\n(via Thenewswire.ca)\n\n \nTSX Venture Exchange Inc. (the \"Exchange\") has accepted for filing an option agreement among Berkwood Ventures Ltd. (the \"Company\") and Sylvie Charbonneau, Francois Marcotte and Wen Fan (collectively, the \"Optionors\") dated May 18, 2012 (the \"Option Agreement\") pursuant to which the Company has been granted an option to acquire a 100% interest in the Lac Gueret East Property.\n\n\n \nUnder the terms of the Option Agreement, the Company may acquire a 100% interest in the Lac Gueret East Graphite Property by making cash payments and issuing Berkwood securities as set forth below:\n\n\n \n\n --------------------------------------------------------------------\n |  |Cash |Securities |\n |------------------------------------------------------------------|\n |On signing |$25,000|0 |\n |------------------------------------------------------------------|\n |Within seven days of TSX Venture |$35,000|750,000 units * |\n |Exchange | | |\n |acceptance | | |\n |------------------------------------------------------------------|\n |Six months from TSX Venture Exchange|$75,000|500,000 common shares|\n |acceptance | | |\n |------------------------------------------------------------------|\n |Twelve months from TSX Venture |$75,000|375,000 common shares|\n |Exchange | | |\n |acceptance | | |\n |------------------------------------------------------------------|\n |Eighteen months from TSX Venture |$75,000|375,000 common shares|\n |Exchange | | |\n |acceptance | | |\n --------------------------------------------------------------------\n\n\n \nAn aggregate net smelter royalty (\"NSR\") of 2% shall be payable to the Optionors on all metals produced from the Property. The Company shall have the right at any time to buy back one per cent (1%) of the NSR from the Optionors for an aggregate payment of one million dollars ($1,000,000).\n\n\n \nThe Company will pay a finder's fee to Jeffrey Flowerdew equal to 8% of the cash payable and shares issuable under the Option Agreement.\n\n\n \nFor further information, see the Company's news release of May 22, 2012 which is available under the Company's profile on SEDAR.\n\n\n \nLac Gueret East Graphite Property:\n\n\n \nThe Lac Gueret East Graphite Property (the \"Property\...