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StrikePoint Signs Definitive Agreement to Sell BC Property to Dolly Varden Silver
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - StrikePoint Gold Inc. (TSXV: SKP) ...
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"StrikePoint Signs Definitive Agreement to Sell BC Property to Dolly Varden SilverVancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (\"StrikePoint\" or the \"Company\") is pleased to announce that the Company has signed a definitive purchase and sale agreement (the \"Agreement\") dated May 7, 2025 with Dolly Varden Silver (\"Dolly Varden\" (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) whereby Dolly Varden will acquire the Company's Porter Idaho property located in northwestern British Columbia, one of the Company's non-core properties.The key terms of the Agreement are:Strikepoint will sell its Porter Idaho property to Dolly VardenDolly Varden will issue to Strikepoint 295,699 common shares of Dolly Varden (the \"Consideration Shares\"). The Consideration Shares have a market price, based on the closing price of Dolly Varden's common shares on the TSX Venture Exchange on May 7, 2025, of $1,100,000Dolly Varden will file a Prospectus Supplement to its Base Shelf Prospectus dated April 25, 2023 allowing for the Consideration Shares to be issued to Strikepoint without any trading restrictions Subject to TSX Venture Exchange acceptance, closing will occur following the filing of the Prospectus Supplement Michael G. Allen, President and CEO of StrikePoint said, \"As StrikePoint continues to focus on the Hercules Gold Project in Nevada's Walker Lane, we took advantage of the opportunity to increase shareholder value by divesting non-core projects into an experienced and expanding Golden Triangle explorer in Dolly Varden Silver.\"The Porter-Idaho property is located adjacent to the town of Stewart in the Golden Triangle in northwestern British Columbia. While Strikepoint and Dolly Varden are not considered to be \"related parties\" pursuant to applicable securities laws, the parties are considered to be \"non-arm's length parties\" pursuant to the policies of the TSXV on account that Shawn Khunkhun, Chief Executive Officer, President and a Director of Dolly Varden is also the Executive Chairman and Director of Strikepoint. The terms of the Acquisition were negotiated by disinterested members of management of Strikepoint and Dolly Varden. No finders fees or commissions are payable by the Company in connection with the transaction.About StrikePointHeaded by CEO Michael G. Allen, Str...