Kapuskasing Gold Issues 200,000 Shares to First Nations

Kapuskasing Gold Corp. (TSXV:KAP) announced in a news release dated Sept. 24, 2015, Kapuskasing Gold Corp. has signed a memorandum of understanding (MOU) with Brunswick House, Chapleau Cree, Chapleau Ojibway and Flying Post first nations with respect to Kapuskasing’s gold exploration projects located in Northern Ontario near the town of Chapleau.
As quoted in the press release:

In addition to the company’s commitment to identify opportunities for businesses and citizens of the four communities to participate in Kapuskasing’s exploration activities through business, employment and training opportunities, the company has granted 50,000 common shares and 50,000 share purchase warrants of the company to each of the four first nations communities, for an aggregate of 200,000 shares and 200,000 warrants. Each warrant will be exercisable into one share at five cents for a period of five years. The warrants will vest 25 per cent on the approval of the TSX Venture Exchange and 25 per cent after six months, 12 months and 18 months after the date of the MOU.

Kapuskasing Gold President Dean Nawata stated:

As we look forward to working together with the first nations communities on our projects in Northern Ontario, we are also pleased that each community will be able to participate directly in Kapuskasing Gold’s future.

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