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GSP Resource Corp. Amends Option Agreement to Accelerate the Acquisition of a 100% Interest in the Alwin Mine Copper-Silver-Gold Project
(TheNewswire) Vancouver, British Columbia – TheNewswire - January 8, 2025: ...
About this update from Gsp Resource Corp.
[{"type":"text","content":"GSP Resource Corp. Amends Option Agreement to Accelerate the Acquisition of a 100% Interest in the Alwin Mine Copper-Silver-Gold Project\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\n \n\n TheNewswire -\n \n\n January 8, 2025:\n \n\n GSP\nResource Corp.\n \n\n (TSX-V: GSPR /\nFSE: 0YD) (\n \n\n the\n \n\n “\n \n\n Company\n \n\n ”\n \n\n or\n \n\n “\n \n\n GSP\n \n\n ”\n \n\n )\n \n\n announces that\n \n\n it has\namended the Alwin Project option agreement (the “\n \n\n Option Agreement\n \n\n ”)\nwith Richard John Billingsley and S. Gaye Richards (the\n“\n \n\n Vendors\n \n\n ”) dated January 30, 2020, as amended (see news releases\ndated January 30, 2020 and July 12, 2023), to accelerate the remaining\npayment obligations under the Option Agreement to\n \n\n acquire a 100% interest in the\n \n\n Alwin\nCopper-Silver-Gold Project (the “\n \n\n Alwin Project\n \n\n ”) in\nsouthwestern British Columbia, Canada.\n \n\n\n\n The parties have agreed to amend the Option Agreement\nto replace $62,500 of the remaining $125,000 cash due to the Vendors\non or before February 5, 2025 with 625,000 common shares of the\nCompany (“\n \n\n Share\n \n\n s”) on or before February 5, 2025 at a deemed issuance\nprice of $0.10 per Share. A remaining $62,500 in cash remains due to\nthe Vendors on or before February 5, 2025. For clarity, the $50,000\ncash payment due to the Vendors on or before February 5, 2024 was\npreviously extended by one year by the parties. Additionally, the\nparties agreed to reduce the balance of the remaining Share payments\nby 1,000,000 Shares, such that an aggregate of 1,900,000 Shares remain\nissuable to the Vendor under the Option Agreement: (i) 900,000 on or\nbefore February 5, 2025; and (ii) 1,000,000 Shares on or before the\nearlier of a bankable feasibility study and February 5, 2028. The\namendment agreement also confirms that the GSR Royalty, as defined and\ndisclosed in the Company’s news release dated June 30, 2020, is\nremoved from the Option Agreement in entirety. Furthermore, the\namendment confirms that the three Crown Granted Mineral Claims (the\n“\n \n\n CGs\n \n\n ”) owned by the Vendors that overlap with certain of the\nmineral claims comprising the Alwin ...