Stellar Africagold Receives TSX-V Acceptance of Royalty Reduction Agreement for Zuenoula Permit Cote D'ivoire

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[{"type":"text","content":"Stellar Africagold Receives TSX-V Acceptance of Royalty Reduction Agreement for Zuenoula Permit Cote D'ivoire \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver,\n \n \n BC - TheNewswire\n-\n \n \n April 5, 2023 -\n \n \n J. François Lalonde\n \n \n ,\n \n \n \n President and Chief Executive Officer of\n \n \n \n Stellar AfricaGold\nInc.,\n \n \n (TSX-V:SPX\n \n \n )\n \n \n (\n \n \n TGAT:6YP1\n \n \n )\n \n \n (\n \n \n FSE:6YP1)\n \n \n (\"\n \n \n Stellar\n \n \n \" or the \"\n \n \n Company\n \n \n \") is\npleased to announce:\n \n \n \n \n Modification to Zuénoula Licence\nAgreement\n \n \n \n \n Stellar has finalized an agreement regarding the\nZuénoula Gold Licence (under application) in Côte d’Ivoire with\nAltus Strategies Ltd, a wholly owned subsidiary of TSX-V listed\nElemental Altus Royalties Corp. (\"Elemental Altus\") to\nmodify the existing property purchase agreement and royalty\ndeed.\n \n \n \n \n Summarized, the significant positive changes to the\nagreements and royalty deed are:\n \n \n \n \n a)\n \n \n To reduce the current Net\nSmelter Royalty from 2.5% with the right to buy-back 1% of that\nroyalty for $1,000,000 to a\n \n \n flat 1% Net Smelter Royalty\n \n \n with no buy-back,\nand\n \n \n \n \n b)\n \n \n To reduce the additional\nconsiderations payable from $250,000 in cash or shares upon reaching\n500,000 ounces of gold resources with at least 250,000 in the\nIndicated category and a further $250,000 in cash or shares upon\ncompletion of a feasibility study to\n \n \n a flat $500,000 in cash or shares  upon\nreaching 1,000,000 ounces of gold resources with at least 500,000\nounces in the Indicated category\n \n \n provided that\nshares may only be used as a form of payment if the shares are trading\nat a price of $0.05 at the time of issuance.\n \n \n \n \n The consideration payable by Stellar for these\nsignificant positive amendments is the issuance of 250,000 Stellar\nshares at $0.05 per share to Elemental Altus upon TSX Venture Exchange\nacceptance of the amending agreements and an additional 250,000\nStellar shares at $0.05 per share upon final issuance of the Zuénoula\nGold Licence by the Côte d’Ivoire authorities. Stellar has filed\nthese amending agreements with the TSX-V as an Expedited Transaction,\nthe T...

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