Business
Stakeholder Announces Option Agreement on Goldstorm Property in Elko, Nevada
Toronto, Ontario--(Newsfile Corp. - March 8, 2017) - Stakeholder Gold Corp. (TSXV: SRC) ("St...
About this update from Stakeholder Gold Corp.
[{"type":"text","content":"\nStakeholder Announces Option Agreement on Goldstorm Property in Elko, NevadaToronto, Ontario--(Newsfile Corp. - March 8, 2017) - Stakeholder Gold Corp. (TSXV: SRC) (\"Stakeholder Gold\" or the \"Corporation\") is pleased to announce it has entered into a property option agreement (the \"Agreement\") with Mountain View Gold Inc. (\"MVG\") and Mountain View Gold Corp. (\"Mountain View\"), a wholly-owned subsidiary of MVG, pursuant to which Mountain View has granted the Corporation an option to earn up to a 100% interest in Mountain View's Goldstorm property (the \"Property\"), located in Elko County, Nevada. The transactions contemplated by the Agreement are conditional upon and subject to the approval of the TSX Venture Exchange. The AgreementFirst OptionUnder the terms of the Agreement, the Corporation has the sole exclusive right and option to earn an initial 40% interest in the Property (the \"First Option\"), by: (i) paying to Mountain View cash consideration in the amount of $40,000, (ii) issuing to Mountain View 1,250,000 common shares in the capital of the Corporation (the \"Common Shares\"), (iii) issuing to Mountain View an additional 1,250,000 Common Shares on the nine month anniversary of the date of the Agreement, and (iv) incurring certain exploration expenditures on the Property of not less than $750,000 within 12 months of the effective date of the Agreement or by paying to Mountain View the balance of such amount not incurred by the Corporation prior to that date.Second OptionFollowing the completion of the First Option, the Corporation has the option to earn a further 40% interest in the Property (the \"Second Option\"), by: (i) issuing to Mountain View 1,750,000 Common Shares upon the date of exercise (the \"Second Option Exercise Date\"), (ii) issuing to Mountain View an additional 1,750,000 Common Shares on the three month anniversary of the Second Option Exercise Date, (iii) incurring certain exploration expenditures on the Property of not less than $750,000 within nine months of the Second Option Exercise Date or by paying to Mountain View the balance of such amount not incurred by the Corporation prior to that date, and (iv) delivering a technical report relating to the Property.Third OptionFollowing the completion of the Second Option, the Corporation has the option to earn a further 20% interest in the ...