Business
Rackla Metals receives stock exchange approval of Astro Property, NWT option
(TheNewswire) Vancouver, British Columbia – TheNewswire - October 11, ...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Metals receives stock exchange approval of Astro Property, NWT option\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n October 11, 2022 –\n \n \n Rackla Metals Inc.\n \n \n (TSXV:RAK) is pleased to confirm that the TSX\nVenture Exchange has approved Rackla’s property option agreement\nwith\n \n \n Orogen Royalties Inc. (TSXV-OGN)\n(\n \n \n “\n \n \n Orogen”)\nto\n \n \n purchase a 100% interest in\n \n \n the Astro gold project in Northwest Territories, Canada.\n The project forms part of Rackla’s claim position in the Tombstone\nGold Belt within the Selwyn Basin.\n \n \n \n \n Pursuant to the terms of the option agreement, Rackla\ncan earn a 100% interest in the Astro project by issuing 120,000\ncommon shares to Orogen on closing of the agreement, and within twelve\nmonths, incurring $250,000 in exploration expenditures and making cash\npayments or issuing common shares to Orogen totaling $382,000.  Upon\nexercise of the option by Rackla, Orogen will retain a 2.5% net\nsmelter return royalty on the project.\n \n \n \n \n The initial 120,000 shares of Rackla have been issued\nto Orogen and are subject to a regulatory resale restriction until\nFebruary 4, 2023.\n \n \n \n \n \n \n ON BEHALF OF THE\nBOARD\n \n \n \n \n Simon Ridgway,\n \n \n \n \n CEO and Director\n \n \n \n \n Tel: (604) 801-5432; Fax: (604) 662-8829\n \n \n \n \n Email: [email protected]\n \n \n \n \n Website: www.racklametals.com\n \n \n \n \n Neither the TSX Venture Exchange nor\nits Regulation Services Provider (as that term is defined in the\npolicies of the TSX Venture Exchange) accept responsibility for the\nadequacy or accuracy of this press release.\n \n \n \n \n Forward-Looking\nInformation\n \n \n \n \n Certain statements contained in this\nnews release constitute forward-looking statements within the meaning\nof Canadian securities legislation. All statements included herein,\nother than statements of historical fact, are forward- looking\nstatements and include, without limitation, statements about\n \n \n the Company’s option to\nacquire the Astro Project\n \n \n .\nOften, but not always, these forward looking statements can be\nidentified by the use of words such as “estimate”,\n“...