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TUKTU RESOURCES LTD. ENTERS INTO AN AGREEMENT TO SELL INTEREST IN MINING CLAIM TO CASCADE COPPER CORP.
TUKTU RESOURCES LTD. ENTERS INTO AN AGREEMENT TO SELL INTEREST IN MINING CLAIM TO CASCADE COPPER ...
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n \n \n \n TUKTU RESOURCES LTD. ENTERS INTO AN AGREEMENT TO SELL INTEREST IN MINING CLAIM TO CASCADE COPPER CORP.\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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR DISSEMINATION IN\n \n UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF SECURITIES LAWS./\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Sept. 28, 2023\n \n \n /CNW/ - Tuktu Resources Ltd. (\"\n \n Tuktu\n \n \" or the \"\n \n Company\n \n \") (TSXV: TUK) is pleased to announce that on\n \n September 28, 2023\n \n , the Company entered into a mining claims purchase and sale agreement (the \"\n \n Purchase Agreement\n \n \") to sell 90% of its interest in the Isintok Property (Copper Plateau Porphyry project) to Cascade Copper Corp. (\"\n \n Cascade\n \n \", (CSE: CASC) (the \"\n \n Transaction\n \n \"). The Transaction is subject to applicable regulatory approvals, including the approval of the Canadian Securities Exchange (\"\n \n CSE\n \n \"). The outstanding common shares (the \"\n \n Shares\n \n \") of Cascade are listed for trading on the CSE.\n \n \n Total consideration to be paid by Cascade to the Company under the Purchase Agreement is CAD\n \n $200,000\n \n (the \"\n \n Purchase Price\n \n \"). The Purchase Price is to be satisfied through the issuance of 2,150,538 units (the \"\n \n Units\n \n \") of Cascade at a deemed price of\n \n $0.093\n \n per Unit. Each Unit shall be comprised of one (1) Share and one half (1/2) Share purchase warrant of Cascade (\"\n \n Warrant\n \n \"). Each full Warrant shall be exercisable for one (1) Share at an exercise price of\n \n $0.15\n \n for a period of three (3) years from the closing date of the Transaction. The Warrants do not vest and are not exercisable until 12 months following the date of the Purchase Agreement.\n \n \n The Transaction is expected to close on or about\n \n October 5, 2023\n \n .\n \n \n Following the Transaction, Tuktu will hold approximately 7.45% of the issued...