Deep-South Resources Intends To Acquire 90% Of The St John Property Neighboring The Kokoya Gold Mine In Liberia And Add Two Experienced Geologists To Its Technical Team

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[{"type":"text","content":"Deep-South Resources Intends To Acquire 90% Of The St John Property Neighboring The Kokoya Gold Mine In Liberia And Add Two Experienced Geologists To Its Technical Team(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / DECEMBER 18, 2017 - Deep-South Resources Inc. (\"Deep-South\" or \"the Company\") (TSX-V: DSM) is pleased to announce that it has signed a letter of agreement (the \"Letter of Agreement\") to acquire from Sparrowhawk Gold Ltd (\"Sparrowhawk\"), 90% of the St John project, neighboring the Kokoya gold mine situated in the northeast of Liberia. \n\n \n \nUpon completion of a satisfactory due diligence, Deep-South shall acquire 90% of the common shares of Jarjlokpo Resources Ltd, which holds the Reconnaissance Licence forming the St John project, in consideration for a cash payment of US $ 20,000.00 and the issuance of 250,000 common shares of Deep-South. \n\n\n \nFurthermore, Deep-South shall incur the following payments and shares issuance to Sparrowhawk: \n\n\n \nOn Cash Payments Shares Issuance\n\n\n \nFirst Anniversary of Closing Date US$ 20,000 250,000\nSecond Anniversary of Closing Date US$ 35,000 250,000\nThird Anniversary of Closing Date US$ 50,000 250,000\n\n\n\n \nDeep-South shall also incur the conditional following shares issuance and payments to Sparrowhawk:\n\n\n \n\n\n--On the confirmation of a NI 43-101 inferred resource of 350,000 oz Au on the property, 250,000 shares of Deep-South; \n\n\n\n--On the confirmation of a NI 43-101 inferred resource of 750,000 oz Au on the property, 500,000 shares of Deep-South; \n\n\n\n--On the confirmation of a NI 43-101 inferred resource of 1.5 million oz Au on the property, 500,000 shares of Deep-South; \n\n\n\n\n \nSparrowhawk shall be entitled to a production bonus of US $ 1million to be paid 60 days after the day of commercial production commencement;\n\n\n \nSparrowhawk shall be entitled to hold a 1.5% Net Smelter Returns royalty (\"NSR\") calculated on 100% of production from the Property (the \"NSR\"). Deep-South shall hold an option to buy back 1/2 of the NSR by making a cash payment of $500,000 to Sparrowhawk at any time \n\n \n \nThe Letter of Agreement, and the transactions contemplated therein, including the shares issuance are subject to approval by the TSX Venture Exchange. All securities issued pursuant to the Letter of Agreement and to Spa...

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