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North Peak Signs Definitive Agreement to Acquire Prospect Mountain Mine Complex in Silver-Gold-Lead District of Eureka, Nevada
North Peak Signs Definitive Agreement to Acquire Prospect Mountain Mine Complex in Silver-Gold-Le...
About this update from North Peak Resources Ltd
[{"type":"text","content":"\n \n \n \n North Peak Signs Definitive Agreement to Acquire Prospect Mountain Mine Complex in Silver-Gold-Lead District of Eureka, Nevada\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n www.northpeakresources.com\n \n \n TSXVenture: NPR\n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n May 4, 2023\n \n \n /CNW/ -\n \n North Peak Resources Ltd.\n \n (TSXV: NPR) (the \"\n \n Company\n \n \" or \"\n \n North Peak\n \n \") announces it has executed a binding, definitive agreement (the \"\n \n Agreement\n \n \") dated effective\n \n May 2, 2023\n \n with Solarljos LLC (\"\n \n Solarljos\n \n \") and Gullsil LLC of\n \n Nevada\n \n and their respective members, for the acquisition of the Prospect Mountain Mine complex (the \"\n \n Property\n \n \") located in the\n \n Eureka\n \n district of\n \n Nevada\n \n (the \"\n \n Transaction\n \n \"). The Property is located in\n \n Nevada's\n \n Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt and within the Ruby Hill lead gold and silver district. The Transaction involves the issuance of up to 8 million common shares of the Company in two phases – an initial tranche of 5 million common shares that acquires an 80% interest in the Property, and at the Company's discretion, an additional 3 million common shares to acquire the remaining 20% interest. The Transaction is arm's length, and its terms and conditions are summarized below.\n \n \n \"The Prospect Mountain Mine complex, with its extensive shaft and mine infrastructure sits squarely on the important geological structures driving today's\n \n Eureka\n \n district exploration activity and will benefit from the various drilling and geophysics programs this historic property will receive for the first time,\" said\n \n Brian Hinchcliffe\n \n , CEO & President\n \n .\n \n \"Significantly our team, will be promptly coordinating the launch of these programs and we are looking forward to working with the Erickson's as we advance the Property.\"\n \n \n \"We rega...