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Genius Metals Adds the Nictaux Fall Dams and A Lake Properties to its Portfolio, Announces Amendment to Mt. Cameron Option Agreement and Initiates Exploration at Meaghers
Genius Metals Adds the Nictaux Fall Dams and A Lake Properties to its Portfolio, Announces...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n\n\n\nGenius Metals Adds the Nictaux Fall Dams and A Lake Properties to its Portfolio, Announces Amendment to Mt. Cameron Option Agreement and Initiates Exploration at Meaghers\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\n\n\n\n\n\n\nCanada NewsWire\nST-SAUVEUR, QC, Nov. 15, 2018\n\n\n\nST-SAUVEUR, QC, Nov. 15, 2018 /CNW/ - Genius Metals Inc. (CSE: GENI) (\"Genius\") is pleased to announce several transactions which strengthen its mining properties portfolio in Nova Scotia and New Brunswick:\nAmendment to the Mt. Cameron Option Agreement; Acquisition of the A Lake Cu-Sn-Zn Property; Acquisition of the Nictaux Falls Dam Co-Ni-As-Bi-Au Property; Beginning Exploration Program at Meaghers\n \n \n\n \nAmendment to Mt. Cameron Option Agreement, Nova Scotia\nThe Corporation  has completed an amended agreement (the \"Amendment Agreement\") to the option agreement entered into with Mt. Cameron Minerals Inc. (\"MCM\") on March 8, 2017  (the \"Option Agreement\"), pursuant to which the Corporation has an option to acquire from MCM an undivided 80% interest in and to the leases, licenses, claims, permits and authorities relating to the Mt. Cameron property located in Nova Scotia (the \"Tenements\"). \nPursuant to the terms and conditions of the Option Agreement, the Corporation has the option to acquire the Tenements, upon, among other things, incurring not less than $1,000,000 of direct expenditures (including exploration, evaluation and development of the Tenements) on the Tenements (the \"Direct Expenditures\"), as follows: $500,000 on or before December 31, 2019 and $500,000 on or before December 31, 2020. MCM and the Corporation agreed to amend the Option Agreement to extend the period granted to the Corporation to incur the Direct Expenditures and postpone the above mention deadlines by a year each.\nIn consideration for the postponement of the deadlines to incur the Direct Expenditures, the Corporation issued an aggregate of 100,000 common shares of its capital stock to stakeholders of MCM. These common shares are subject to a hold period under applicable securities laws...