Business
TomaGold Announces an Amendment to its Agreement with SOQUEM relating to the Chibougamau Properties
TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ ...
About this update from Tomagold Corporation Class A
[{"type":"text","content":"TomaGold Announces an Amendment to its Agreement with SOQUEM relating to the Chibougamau Properties\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistlowroman { list-style-type: lower-roman }\n \n\n\n\n\n TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF)\n \n (“\n \n TomaGold\n \n ” or the “\n \n Company\n \n ”) announces that it has entered into an amendment (the “\n \n Amendment\n \n ”) to the mineral property option agreement dated August 11, 2023 (the “\n \n Agreement\n \n ”) with SOQUEM Inc. (“\n \n SOQUEM\n \n ”). The Agreement and the Amendment relate to the David, Radar, Dufault, Williams, Brosman, McKenzie, and Bruneau properties.\n \n\n TomaGold and SOQUEM have agreed to amend the Agreement as follows:\n \n\n\n The anniversary date for Year 3 is extended to June 1, 2027, for work amounting to $1,250,000;\n \n\n The anniversary date for Year 4 is set for June 1, 2028, for work amounting to $1,500,000;\n \n\n The effective date of the Agreement is amended so that all obligations (cash payments, share payments, and work) are adjusted to correspond to the new due dates established above;\n \n\n It is understood that any future renewal of mining titles must be paid for in cash, failing which the Agreement will be terminated.\n \n\n\n This Amendment will allow TomaGold to defer its work commitments by approximately one year and optimize the planning of its exploration activities, given the longer-than-expected assay delays, while providing it with increased financial flexibility. The Amendment remains subject to the approval of the TSX Venture Exchange.\n \n\n\n About TomaGold\n \n\n TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Quebec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Quebec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company...