Business
Cyon Announces Acquisition of 1296067 B.C. Ltd.
(TheNewswire) Vancouver, British Columbia – TheNewswire - June...
About this update from International Metals Mining Corp
[{"type":"text","content":"Cyon Announces Acquisition of 1296067 B.C. Ltd. \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n June 8, 2021 – Cyon Exploration Ltd.\n(previously True Grit Resources Ltd.)\n \n \n (the\n“\n \n \n Company\n \n \n ”)\n \n \n (\n \n \n TSXV:CYON\n \n \n )\n \n \n (OTC:CYNXF)\n \n \n announces, further to its news\nrelease dated May 17, 2021, that it acquired (the “\n \n \n Acquisition\n \n \n ”) all\nthe issued and outstanding common shares of 1296067 B.C. Ltd.\n(“\n \n \n 1296\n \n \n ”) from the shareholders of the 1296 (the “\n \n \n Shareholders\n \n \n ”)\npursuant to the share exchange agreement dated May 17, 2021 (the\n“\n \n \n Share Exchange\nAgreement\n \n \n ”).\n \n \n \n \n 1296 is the owner of certain mineral claims and\ninterests in leases known as the Black Rock Canyon property that were\npreviously owned by Metals Explorations Inc. (the “\n \n \n Property\n \n \n ”).  As\ndisclosed in the Company’s news release dated March 13, 2020, the\nProperty is located in the Bullion mining district approximately 55\nmile southwest of Elko, Nevada.  The Property comprises about 3,894\nacres, 31 lode claims totaling 620 acres, and 440 acres of fee\nminerals lease.  Please also see the National Instrument 43-101\ntechnical report in respect of the Property available under the\nCompany’s SEDAR profile at\n \n \n \n \n www.sedar.com\n \n \n \n \n .\n \n \n \n \n Pursuant to the terms of the Share Exchange Agreement,\nas consideration for the sale and transfer of the all the common\nshares of 1296 to the Company, the Company issued to the Shareholders\nan aggregate of 12,000,000 common shares of the Company.\n \n \n \n \n Upon closing of the Acquisition, the Mineral Option\nAgreement dated March 13, 2020, as amended, shall be terminated and no\nfurther shares will be issued under the Mineral Option Agreement.\n The Mineral Option Agreement previously granted the Company an\noption to acquire the Property upon fulfilling certain share issuances\nand expenditures.\n \n \n \n \n None of the securities issued in connection with the\nAcquisition will be registered under the United States Securities Act\nof 1933, as amended (the “\n \n \n 19...