Business
Rokmaster Announces Execution of an Indicative Term Sheet for an Option to Acquire the J&L Gold-Polymetallic Project From Huakan
Rokmaster Announces Execution of an Indicative Term Sheet for an Option to Acquire the J&a...
About this update from Rokmaster Resources Corp.
[{"type":"text","content":"\n\n\n\nRokmaster Announces Execution of an Indicative Term Sheet for an Option to Acquire the J&L Gold-Polymetallic Project From Huakan\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: MIDDLE; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\nRokmaster Announces Execution of an Indicative Term Sheet for an Option to Acquire the J&L Gold-Polymetallic Project From Huakan\nCanada NewsWire\nVANCOUVER, Aug. 16, 2019\n\n\n\nVANCOUVER, Aug. 16, 2019 /CNW/ - Rokmaster Resources Corp. (\"Rokmaster\" or the \"Company\") is pleased to announce that on August 7, 2019 it has executed a non-binding Indicative Term Sheet (the \"Term Sheet\") with Huakan International Mining Inc. (\"Huakan\") in respect of Huakan's grant to Rokmaster of an option (the \"Option\") to acquire a 100% interest in the J&L Project, one of the larger undeveloped precious and polymetallic deposits in British Columbia (the \"J&L Property\" or \"J&L\"), including mineral claims, surface lands, crown grants, equipment, improvements and all associated assets, which Rokmaster can exercise by paying Huakan an aggregate of Cdn$44,200,000 in cash on the following schedule: \nCdn$200,000 on the date of execution (the \"Execution Date\") of a Definitive Agreement in respect of the Option; an additional Cdn$1,000,000 on or before the date which falls 12 months from the Execution Date; an additional Cdn$4,000,000 on or before the date which falls 24 months from the Execution Date; an additional Cdn$6,000,000 on or before the date which falls 36 months from the Execution Date; an additional Cdn$13,000,000 on or before the date which falls 48 months from the Execution Date; and an additional Cdn$20,000,000 on or before the date which falls 60 months from the Execution Date.In addition, t...