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Zimtu Capital Corp. (TSXV:ZC,FWB:ZCT1) and one of its prospecting partners have signed an agreement with Lomiko Metals Inc. In this agreement, Lomiko can earn a 100% interest in the Quatre Milles Graphite Property located in southwestern Quebec.
As quoted in the press release:
For its participation in the transaction, Zimtu will receive staged payments totaling C$25,000 and 2,000,000 common shares over a 24-month period. Zimtu’s partner will receive cash and share consideration equal to that of Zimtu. During the period which is 12 months from the date of TSX Venture Exchange (“TSXv”) acceptance, Lomiko will complete a minimum of C$200,000 of exploration on the property. The vendors will collectively retain a 2-per-cent net smelter royalty on the property, of which 1-per-cent can be purchased by Lomiko for C$1-million. The transaction is subject to acceptance by the TSXv.
Click here to read the Zimtu Capital Corp. (TSXV:ZC,FWB:ZCT1) press release
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