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SKRR Exploration Inc. enters into Acquisition Agreement for the Disposition of the Watts Lake Zinc Property in Saskatchewan
SKRR Exploration Inc. enters into Acquisition Agreement for the Disposition of the Watts Lake Zin...
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"\n \n \n \n SKRR Exploration Inc. enters into Acquisition Agreement for the Disposition of the Watts Lake Zinc Property in 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.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntac{\nTEXT-ALIGN: CENTER\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 March 22, 2023\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 it has entered into a definitive arm's length acquisition agreement with Fathom Nickel Inc. (CSE: FNI) (\"\n \n Fathom\n \n \") dated\n \n March 21, 2023\n \n (the \"\n \n Acquisition Agreement\n \n \") for the disposition of SKRR's 100% owned Watts Lake zinc property (the \"\n \n Property\n \n \"). The Property consists of 24 mineral claims comprising a total of 13,708.11 hectares and is approximately 65 km north-east of the town of\n \n La Ronge, Saskatchewan\n \n and 20km northwest of the community of\n \n Missinipe, SK\n \n .\n \n \n \n \n \n \n \n \n \n \n Terms of the Acquisition Agreement\n \n \n \n Under the terms of the Acquisition Agreement, Fathom will acquire a 100% interest in the Property by making the following cash and share payments to SKRR:\n \n \n \n \n \n \n an initial cash payment of\n \n C$75,000\n \n ;\n \n \n \n \n 2,000,000 common shares in the capital of Fathom; and\n \n \n \n \n an additional cash payment of\n \n C$75,000\n \n within 60 days of the execution of the Acquisition Agreement. The Acquisition Agreement provides for an underlying 2% net smelter return royalty in favour of Edge Geological Consulting Inc. (subject to a buy down to 1% for\n \n C$1,000,000\n \n ).\n \n \n \n \n The common shares to be issued pursuant to the Acquisition Agreement will be subject to a four month hold period from the date of issuance in accordance with applicable securities laws.\n \n \n \n Sherman Dahl\n \n , President and CEO of SKRR, commented:\n \n \n \n \"SKRR is an asset-rich project generator, having acquired numerous high potential precious metal, ...