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Cartier Iron Signs Definitive Agreement to Acquire a 100% Interest in the Big Easy Property, Newfoundland; Announces Change to Management
Oct. 31, 2017 09:05AM PST
Base Metals Investing Cartier Iron (CSE:CFE) (“Cartier Iron” or the “Company”), is pleased to announce that it has signed a Definitive Agreement to acquire a 100% interest (“Acquisition”) in the Big Easy Property (“Property”), consisting of 278 mining claims covering 69.5 km2, all located in the province of Newfoundland and Labrador, the details of which were announced by Cartier …
Cartier Iron (CSE:CFE) (“Cartier Iron” or the “Company”), is pleased to announce that it has signed a Definitive Agreement to acquire a 100% interest (“Acquisition”) in the Big Easy Property (“Property”), consisting of 278 mining claims covering 69.5 km2, all located in the province of Newfoundland and Labrador, the details of which were announced by Cartier Iron on September 28, 2017.
The Property is readily accessible from the Trans-Canada Highway and local roads. The north end of the Property is located approximately 20 kilometres northwest of the town of Clarenville with St. John’s approximately 220 km southeast of the Property.
The Property is currently subject to an underlying 3% royalty (“Royalty”), of which Cartier Iron has been granted the option to purchase half of the Royalty (1.5%), in exchange for staged payments to the Royalty holders in the aggregate of $700,000 on or before 60 months following the Closing date.