Business
Norseman Silver Inc. Acquires New Moon Property in British Columbia
(TheNewswire) Vancouver, British Columbia - TheNewswire - December 9, 2020 ...
About this update from Fitzroy Minerals Inc
[{"type":"text","content":"Norseman Silver Inc. Acquires New Moon Property in British Columbia\n \n \n (TheNewswire)\n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n December 9, 2020\n \n - Norseman Silver\nInc. (TSXV:NOC) (“\n \n Norseman\n \n ” or the “\n \n Company\n \n ”) is pleased to an announce that it has entered\ninto an asset purchase agreement (the “\n \n Agreement\n \n ”) among Cabox Gold Corp.\n(“\n \n Cabox\n \n ”), 1269270 B.C.\nLTD. (“\n \n 9270 BC\n \n ”), 1236686\nB.C. LTD. (“\n \n 6686 BC\n \n ”, and\ntogether with Cabox and 9270 BC, the “\n \n Vendors\n \n ”), and Samuel Hardy to acquire (the “\n \n Acquisition\n \n ”) certain mining\nclaims located in the Province of British Columbia (the “\n \n New Moon Claims\n \n ” or “\n \n the Property”)\n \n . The entering into\nof the Agreement is subject to the receipt of all regulatory approvals\nincluding the approval of the TSX Venture Exchange (the “\n \n Exchange\n \n ”).\n \n \n In consideration for the acquisition of the New Moon Claims, the\nCompany shall in order to fully exercise the option (the “\n \n Option\n \n ”), the Company shall: (i)\npay to Cabox an aggregate of $10,000 on the effective date of the\nAgreement and issue to Cabox 2,500,000 common shares in the capital of\nthe Company (“\n \n Common\nShares\n \n ”) on the closing date (the “\n \n Closing Date\n \n ”); (ii) issue to 9270\nBC an aggregate of 600,000 Common Shares on the Closing Date; and\n(iii) issue to 6686 BC an aggregate of 1,500,000 Common Shares on the\nClosing Date. The Common shares issued in consideration for the\nacquisition of the Property shall be subject to a hold period of four\nmonths and on day from the date of issuance.\n \n \n In addition, pursuant to the Agreement, the Company shall grant to\nCabox a 2.0% net smelter return (“\n \n NSR\n \n ”) royalty. The Company shall retain the right to\npurchase at any time from Cabox one half of the NSR for the total sum\nof $1,000,000. In addition, if the Company acquires any mineral rights\nwithin five (5) kilometres from the external boundary of the New Moon\nClaims, such mineral rights will be subject to the NSR on the same\nt...