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Callinex Mines Closes Option Agreement on Alberts Lake Project
Callinex Mines Closes Option Agreement on Alberts Lake Project Canada NewsWire ...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Callinex Mines Closes Option Agreement on Alberts Lake Project\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 8, 2024\n \n\n /CNW/ -\n \n\n Callinex Mines Inc.\n \n\n (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce the closing of its previously announced option agreement (the \"Option Agreement\") with Voyageur Mineral Explorers Corp. (\"Voyageur\") whereby the Company has optioned a 100% interest in the Alberts Lake Project,\n \n Manitoba\n \n (\n \n see news release dated\n \n May 20, 2024\n \n\n ).\n \n\n\n\n\n\n\n\n\n Under the terms of the option agreement, Callinex will acquire a 100% interest in the Alberts Lake Project by making the following share issuances to Voyageur:\n \n\n\n\n $75,000\n \n of common shares on the date of TSX Venture Exchange acceptance;\n \n\n\n $125,000\n \n of common shares on the first anniversary;\n \n\n\n $150,000\n \n of common shares on the second anniversary;\n \n\n\n $150,000\n \n of common shares on the third anniversary; and\n \n\n\n $150,000\n \n of common shares on the fourth anniversary.\n \n\n\n The amount of shares to be issued on each applicable date will be based upon the greater of (i) the 5-day volume weighted average trading price of the common shares calculated 2 days prior to the applicable date; and (ii)\n \n $1.07\n \n . The Company can, at is sole discretion, elect to (i) pay the cash value of an anniversary payment indicated above, in lieu of issuing common shares; and/or (ii) accelerate the payment or issuance of any common shares prior to the particular anniversary payment d...