Valterra Amends Option Agreement for Toughnut Property
Valterra Resource Corp. (TSXV:VQA,FWB:3VA) has amended the option agreement for purchase of a 100% interest in its Toughnut property located in southeast BC.
As quoted in the press release:
Pursuant to an amendment agreement dated July 31, 2012, the optionors of the Toughnut property have agreed to defer the cash option payment of $40,000 due on July 31, 2012 and the exploration expenditure requirement of $750,000 due on September 30, 2012 for a period of two months. Valterra has expended more than $650,000 on the Toughnut property over the term of the option agreement. Valterra will issue an additional 50,000 common shares to the optionors in consideration for this extension. The amendment agreement is subject to TSX Venture Exchange acceptance.