Business
RT Minerals Corp. Closes Acquisition of Catharine Gold Inc. Resulting in Change of Control and Appointment of New Director
(TheNewswire) Vancouver, B.C. - TheNewswire – July 14, 2021 ...
About this update from Rt Minerals Corp.
[{"type":"text","content":"RT Minerals Corp. Closes Acquisition of Catharine Gold Inc. Resulting in Change of Control and Appointment of New Director\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire\n \n \n – July 14, 2021\n \n \n – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “\n \n \n Company\n \n \n ” or\n“\n \n \n RT Minerals\n \n \n ” or “\n \n \n RTM\n \n \n ”) is pleased to announce, further to its\nnews releases dated March 24, 2021, March 31, 2021 and June 23 ,2021,\nthat is has closed its acquisition for all of the issued and\noutstanding common shares of Catharine Gold Inc. (“\n \n \n Catharine Gold\n \n \n ”),\npursuant to the share purchase agreement dated March 22, 2021 and\namended May 14, 2021 among the Company,\n \n Kalt Industries Ltd.\nand Mr. Ryan Kalt\n \n (the “\n \n \n Share Purchase Agreement\n \n \n ”).\n \n \n \n As disclosed in the Company’s news release dated March 24, 2021,\n \n Catharine Gold is the owner of the mineral rights to\napproximately 100 sq km (24,536 acres) of mineral properties which\ncommence contiguous to the border of RTM’s Link-Catharine property\nand which extend throughout 6 townships in northern Ontario, Canada\n(the “\n \n \n Property\n \n \n ”).\n \n Please also see the National Instrument 43-101\ntechnical report in respect of the Property available under the\nCompany’s SEDAR profile at\n \n \n www.sedar.com\n \n \n .\n \n \n \n Pursuant to the terms of the Share Purchase Agreement,\nas consideration for the sale and transfer of the all the common\nshares of Catharine Gold to the Company, the Company issued to\n \n Mr. Ryan Kalt and Kalt Industries Ltd., a corporation\ncontrolled by Mr. Kalt,\n \n an aggregate of 21,000,000\ncommon shares of the Company (the “\n \n \n Shares\n \n \n ”),\n \n which resulted in Mr. Kalt being becoming a “Control\nPerson” of the Company, as such term is defined in the policies of\nthe TSX Venture Exchange. In addition, Mr. Kalt will retain a 2% gross\nroyalty on revenue received from ore and concentrates generated from\nthe Property, without deduction for any costs.\n \n \n The Shares are subject to a multi-year escrow release under a Tier 2\nEscrow Surplus Agreement, pursuant to which the S...