- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Soma Gold Corp.
Black Swan Graphene
CI Galaxy Bitcoin ETF
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Searchlight Resources signs Agreement to Option 100% Interest in New York Canyon Property to Emgold Mining Corp.
Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT) announces that it has signed a Claim Purchase Agreement (“Agreement”) with Emgold Mining Corporation, a company listed on the TSX Venture Exchange under the symbol “EMR”, (“Emgold”) whereby Searchlight has granted to Emgold the option to acquire a 100% interest in the New York Canyon Property, NV (the “Property”), subject to underlying royalties.
Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT) announces that it has signed a Claim Purchase Agreement (“Agreement”) with Emgold Mining Corporation, a company listed on the TSX Venture Exchange under the symbol “EMR”, (“Emgold”) whereby Searchlight has granted to Emgold the option to acquire a 100% interest in the New York Canyon Property, NV (the “Property”), subject to underlying royalties.
Under the Agreement terms, Searchlight will transfer all its interest in and to the New York Canyon Property to Emgold and, in consideration of which, Emgold will pay Searchlight CAD $350,000 and issue CAD $500,000 worth of common shares of Emgold.
“The New York Canyon option brings immediate value to our shareholders for a non-core asset and allows Searchlight to focus its exploration activities on Saskatchewan, including the reopening the past producing Rio Gold Mine near Flin Flon and exploration to discover the next major VMS deposit in the Flin Flon – Snow Lake Greenstone Belt” stated Stephen Wallace, CEO of Searchlight.
Terms of the New York Canyon Transaction
Emgold has agreed to purchase a 100 percent interest in the 21-patented and 60-unpatented mining claims from Searchlight under the following terms:
1. C$10,000 on signing the LOI; (paid)
2. C$40,000 on closing of the Transaction; (paid)
3. C$500,000 in common shares of the capital of Emgold at the date of closing of the Transaction, with the share price based on the 30-day volume weighted average price of the Company’s share immediately prior to the announcement of the Transaction – 2,941,176 shares at C$0.17 per share (paid);
4. C$100,000 within 6 months of the date of closing;
5. C$100,000 within 12 months of the date of closing; and
6. C$100,000 within 18 months of the date of closing.
On behalf of the Board of Directors,
“Stephen Wallace”
SEARCHLIGHT RESOURCES INC.
Stephen Wallace P.Geo, President, CEO and Director
Contact:
Searchlight Resources Inc.
Investor Relations
(604) 331-9326
info@searchlightresources.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Click here to connect with Searchlight Resources Inc. (TSXV:SCLT) for an Investor Presentation.
Source: www.accesswire.com
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.