The Conversation (0)
NexGen Energy Ltd. (TSXV:NXE) has amended its option agreement with Michael Lederhouse, Timothy Young and Matthew Mason, whereby the amount of remaining earn-in expenditures to be incurred under the Option Agreement will be $10,000,000 and the time period for incurring such expenditures has been extended to May 31, 2017. All expenditures were previously required by May 31, 2015.
As quoted in the press release:
As consideration for entering into the Letter Agreement, the Company has agreed to issue to the Optionors an aggregate of 5,714,286 units (the “Units”), at a price of C$0.35 per Unit, with each Unit comprising one common share in the capital of the Company and one common share purchase warrant with an exercise price of C$0.50 per common share, expiring May 31, 2017.
NexGen CEO, Leigh Curyer, said:
We are very pleased with this arrangement which extends our earn-in period on Radio by two years. This gives us substantial time to make all required Radio expenditures and allows us to focus on a very large drill program this winter at our Rook I property following a very successful summer drilling campaign.
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