Stuhini Exploration Ltd. Amends Que Property Option Agreement
Stuhini Exploration Ltd. Amends Que Property
Option Agreement
VANCOUVER
,
March 10, 2020
/CNW/ -
Stuhini Exploration Ltd. ("
Stuhini
" or the
"
Company
")
(TSX
V:STU)
announces that it has amended the terms of the option agreement
announced
February 21, 2020
, whereby Stuhini can acquire from arm's length parties a 100%
interest in the Que Property (the "
Property
"), located in the south-central Yukon Territories,
Canada
(the "
Option
"). See news release dated
February 21, 2020
for further information.
The amended Option terms provide for a revised compensation schedule comprised of cash
payments totaling up to
$380,000
and issuing up to 2,950,000 common shares over a four-year term
to exercise the Option. The details of the amended cash and share payments are set out below.
Date for Completion
Shares
Cash
Approval Date
200,000
Nil
1st anniversary of Approval Date
300,000
Nil
2nd anniversary of Approval Date
450,000
Nil
3rd anniversary of Approval Date
500,000
$140,000
4th anniversary of Approval Date
1,500,000
$240,000
TOTAL
2,950,000
$380,000
All other material terms of the option agreement remain unchanged.
The amended option agreement is subject to approval of the TSX Venture Exchange.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company that is focused on the exploration and development of
precious and base metal properties, with its focus on the Metla Property, located in northwestern
British Columbia, Canada
, approximately 150 kilometres south of the town of
Atlin
and the Ruby
Creek Property located approximately 20 kilometers east of
Atlin
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Stuhini Exploration
View original content:
http://www.newswire.ca/en/releases/archive/March2020/10/c0008.html
%SEDAR: 00046568E
For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration
Ltd., Email: [email protected], Phone: (604) 418-4019, Web: www.stuhini.com
CO: Stuhini Exploration
CNW 09:25e 10-MAR-20