- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- 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
Great Atlantic Options Property to Fort St. James Nickel
Great Atlantic Resources (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce that it entered into an option agreement (the “Agreement”) with Fort St. James Nickel (“FTJ”) pursuant to which FTJ may acquire 100% of the Company’s Porcupine property (the “Property”) located in New Brunswick (the “Transaction”). Under the Agreement, FTJ may earn-in a 100% …
Great Atlantic Resources (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce that it entered into an option agreement (the “Agreement”) with Fort St. James Nickel (“FTJ”) pursuant to which FTJ may acquire 100% of the Company’s Porcupine property (the “Property”) located in New Brunswick (the “Transaction”).
Under the Agreement, FTJ may earn-in a 100% interest in the Property by making certain staged cash payments and share payments of common shares in the capital of FTJ to Great Atlantic over a four year period as follows:
(i) $15,000 in cash and 500,000 common shares within five (5) days of the TSX Venture Exchange approval of the Transaction (the “Approval Date”);
(ii) $20,000 in cash and $75,000 in common shares on or before the first anniversary of the Approval Date;
(iii) $20,000 in cash and $75,000 in common shares on or before the second anniversary of the Approval Date;
(iv) $20,000 in cash and $75,000 in common shares on or before the third anniversary of the Approval Date; and
(v) $75,000 in cash and $200,000 in common shares on or before the fourth anniversary of the Approval Date. FTJ will also be required to spend $1,000,000 in exploration expenditures on the Property over a four (4) year period with a minimum of $150,000 each year.
Great Atlantic will retain a 2.0% new smelter return royalty (the “NSR Royalty”) which FTJ may buy down one-half (50%) of the NSR Royalty by paying $1,000,000, leaving Great Atlantic with 1.0%.
Click here to read the full text release.
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.