Business
Taku Gold Acquires Sonora Gulch Gold Project From Golden Predator in White Gold District of Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 2, 2017) - Taku Gold Corp. (CSE:TAK) (CSE:TAK.CN) (CNSX:TAK) ("Taku" or the "Company") is pleased to announce t
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[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 2, 2017) - Taku Gold Corp. (CSE:TAK) (CSE:TAK.CN) (CNSX:TAK) (\"Taku\" or the \"Company\") is pleased to announce that it has entered into a property option agreement (the \"Agreement\") with Golden Predator Mining Corp. (TSX VENTURE:GPY)(OTCQX:NTGSF) (\"Golden Predator\") pursuant to which the Company has the option to acquire Golden Predator's 100% interest in the Sonora Gulch Property (\"Sonora\" or the \"Property\") located in the southern part of Yukon's White Gold District. View map: http://bit.ly/2vkrLdZ Under the terms of the Agreement, Taku has issued 4,500,000 common shares to Golden Predator; and to exercise the option, Taku will be required to issue additional common shares to Golden Predator as follows: On the date that is 12 months from the closing date, 3,500,000 common shares of Taku, or that number of Taku common shares equal in value to $1,400,000 determined at a price per share equal to the volume weighted average price of Taku common shares (\"VWAP\") for the 10 consecutive trading days immediately prior to such anniversary date if the VWAP is greater than $0.40; and On the date that is 24 months from the closing date, 3,000,000 common shares of Taku, or that number of Taku common shares equal in value to $1,200,000 determined at a price per share equal to the VWAP for the 10 consecutive trading days immediately prior to such anniversary date if the VWAP is greater than $0.40. The securities issued to Golden Predator pursuant to the Agreement will be subject to a statutory four month hold period from the date of issue. Taku will earn its 100% interest in Sonora upon completion of the share payments outlined above. Golden Predator will retain a 1.0% net smelter return royalty on production from the Property. The Property includes 259 mineral claims (5,414 hectares) located approximately 110 kilometres northwest of the town of Carmacks along the winter access portion of the Casino Trail which extends from Carmacks to the Casino project located northwest of Sonora. The Property is located at the nexus of the White Gold District, which includes the Coffee and Golden Saddle gold deposits, and the Dawson Range Mineral Belt, which includes Capstone's producing Minto copper mine, the Casino, Cariboo Rose and Carmacks copper deposits, and the Freegold, Klaza and Mount N...