Avanti Mining: purchase of contiguous mineral claims at Kitsault
Investing News Network - April 22nd, 2010
Avanti Mining Inc. (TSX-V:AVT) reported that the company has signed a definitive agreement to purchase a 100% interest in two mineral claims located in Kitsault, British Columbia, Canada.
Avanti Mining Inc. (TSX-V:AVT) reported that the company has signed a definitive agreement to purchase a 100% interest in two mineral claims located in Kitsault, British Columbia, Canada.
The press release is quoted as saying:
The Vendor will retain a 2% net smelter royalty on the Claims purchased by Avanti, however, at any time Avanti may purchase 1% of the net smelter royalty thereby reducing it to 1% by paying the Vendor $1,000,000. The closing of this purchase will be subject to the approval of the TSX Venture Exchange.