Business
Bald Eagle Announces Assignment of Interest in Hot Springs Joint Venture for USD$1.27 Million
Bald Eagle Announces Assignment of Interest in Hot Springs Joint Venture for USD$1.27 Mil...
About this update from Hercules Metals Corp
[{"type":"text","content":"\n \n \n \n Bald Eagle Announces Assignment of Interest in Hot Springs Joint Venture for USD$1.27 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 4, 2021\n \n /CNW/ - Bald Eagle Gold Corp. (\"\n \n Bald Eagle\n \n \" or the \"\n \n Company\n \n \") (TSXV: BIG) (OTCBQ: BADEF) announces that the Company, through its wholly-owned subsidiary, Frontera Gold Nevada Inc. (\"\n \n Frontera\n \n \") has entered into a purchase agreement (the \"\n \n Purchase Agreement\n \n \") with Osgood Mountains Gold, LLC (\"\n \n Osgood\n \n \") and Huizenga Exploration Group, LLC (\"\n \n HEG\n \n \") to assign to HEG its 50% joint venture interest with respect to certain unpatented mineral claims and leases in\n \n Nevada\n \n forming the Hot Springs property (the \"\n \n Transaction\n \n \"). Pursuant to the terms of the Purchase Agreement, HEG has agreed to pay the Company\n \n USD$1,270,000\n \n in cash. The Transaction is at arms length.\n \n \n \n \n \n \n \n \n \n The Transaction represents a \"Reviewable Disposition\" as defined in Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets of the TSX Venture Exchange (the \"\n \n TSXV\n \n \"). As such, under the policies of the TSXV, completion of the Transaction is subject to approval by the TSXV.\n \n \n Completion of the Transaction is subject to, among other things, obtaining necessary approvals and consents including approval of the shareholders of the Company. The Company will obtain shareholder approval by written consent resolution.\n \n \n Bald Eagle's management, board of directors and advisors believe the transaction advances the interest of shareholders in several ways:\n \n \n \n The Transaction provides\n \n USD$1.27 million\n \n of non-dilutive financing to position the Company for exploration and development activities at the recently acquired and 100% owned Hercules silver project (the \"\n \n H...