SKRR Exploration Inc. Announces Definitive Agreement with X1 Entertainment Group Inc. for the Manson Bay Project, Saskatchewan

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[{"type":"text","content":"\n \n \n \n SKRR Exploration Inc. Announces Definitive Agreement with X1 Entertainment Group Inc. for the Manson Bay Project, Saskatchewan\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 7, 2024\n \n \n /CNW/ - SKRR Exploration Inc. (TSXV: SKRR); (FSE: B04Q) (\"\n \n SKRR\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that, further to its news release on\n \n December 4, 2023\n \n , it has entered into a definitive agreement (\"\n \n Definitive Agreement\n \n \") with X1 Entertainment Group Inc. (CSE: XONE) (\"\n \n X1\n \n \"), pursuant to which X1 has agreed to acquire a 100% legal and beneficial interest in SKRR's wholly-owned Manson Bay project (the \"\n \n Property\n \n \").\n \n \n \n \n \n \n \n \n \n The Property consists of thirteen (13) contiguous mineral claims totaling 4,293.213 hectares, located in the Trans Hudson Corridor in east-central\n \n Saskatchewan\n \n , approximately 40km northwest of the historic mining center of\n \n Flin Flon\n \n , on the\n \n Manitoba\n \n border.\n \n \n \n \n Transaction Terms\n \n \n \n \n Pursuant to the terms and conditions of the Definitive Agreement, X1 has agreed to acquire (i) 100% of SKRR's rights, title, and interest in the Property, and (ii) all data and information in the possession of SKRR with respect to the Property and the activities conducted thereon (the \"\n \n Data and Information\n \n \", and together with the Property, the \"\n \n Purchased Assets\n \n \"). As consideration for the Purchased Assets, X1 has agreed to issue SKRR 1,000,000 common shares in the capital of X1 (the \"\n \n Consideration Shares\n \n \"). In addition to a statutory hold period of four months plus one day from the date of issuance, the Consideration Shares will be subject to contractual resale restrictions pursuant to which (i) 50% will be released on the date that is four (4) months following the date of closing (the \"\n \n Closing Date\n \n \"), (ii) 25% will be released on the date that is six (6) months following t...

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