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Lateegra Gold Corp. (CVE:LRG) announces that it has executed a Letter of Intent to acquire a 51% undivided interest in a mineral exploration project known as the “B-14 Property”.
Lateegra Gold Corp. (TSXV:LRG) announces that it has executed a Letter of Intent to acquire a 51% undivided interest in a mineral exploration project known as the “B-14 Property”.
The press release is quoted as saying:
The Property is located in Beschefer Township, north western Quebec. Pursuant to the terms of the proposed agreement, Lateegra can earn an undivided 51% interest by making cash payments totalling $25,000 and issuing a total of 3,000,000 shares over a one year period. Lateegra has also entered into a letter of intent with Sea Green Capital Corp. whereby it can acquire the remaining 49% interest in the Property (subject to an underlying net smelter royalty of 1% with an option to purchase 0.75% for $500,000) for a total of $25,000 and 3,000,000 common shares to be paid and issued to Sea Green.
Click here to access the entire press release