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IDM Mining Completes the Sale of Its Yukon Portfolio to StrikePoint Gold
Mar. 28, 2017 08:50AM PST
Precious MetalsIDM Mining (TSXV:IDM) has announced that it has completed the sale of its Yukon portfolio of properties with StrikePoint Gold. As quoted in the press release: As consideration, the Company received $150,000 in cash and 10.5 million common shares of StrikePoint. In addition, StrikePoint is required to incur $1,500,000 in exploration expenditures on the Yukon …
IDM Mining (TSXV:IDM) has announced that it has completed the sale of its Yukon portfolio of properties with StrikePoint Gold.
As quoted in the press release:
As consideration, the Company received $150,000 in cash and 10.5 million common shares of StrikePoint. In addition, StrikePoint is required to incur $1,500,000 in exploration expenditures on the Yukon Properties by December 31, 2017 and to pay any deficiency to IDM in cash.
Pursuant to the transaction, the Company has been granted certain anti-dilution rights, the right to appoint two members of StrikePoint’s board of directors and a right of first refusal over any proposed disposition of the Yukon Properties during the two year period following closing.
