Redhawk Royalty Buyout Agreement Approved

Redhawk Resources, Inc. (TSXV:RDK) receives notice from the Trustee for AMT (USA) Inc. that court approval has been obtained for the purchase by the Company of the 2.25% net smelter royalty held by AMT.

The press release is quoted as saying:

The agreement requires a payment of $350,000 which has been made and a further $950,000 in quarterly payments over an eighteen month period. The agreement also calls for a further $500,000 payment should the Company enter into a major transaction during the two year period after closing.

Click here to access the entire press release