Stuhini Exploration Ltd. Receives TSX-V Approval for Que Property
Stuhini Exploration Ltd. Receives TSX-V
Approval for Que Property
VANCOUVER
,
April 2, 2020
/CNW/ - Stuhini Exploration Ltd. ("
Stuhini
" or the "
Company
")
(TSX
V:STU)
is pleased to announce that it has received TSX Venture Exchange (the "
Exchange
")
approval of the amended and restated option agreement (the "
Agreement
") with Nokuyukon
Holdings Ltd.,
Mark Lindsay
, Glacier Drilling Ltd.,
Mike Mickey
and Joanne McDougall
("
Optionors
"). Pursuant to the Agreement, Stuhini has the option to acquire a 100% interest in the
Optionors' Que Property (the "
Property
"), located in south central
Yukon Territory, Canada
(the
"
Option
") as further disclosed in the Company's news releases dated
February 21, 2020
and
March
10
, 2020.
Pursuant to the Agreement, Stuhini can earn a 100% interest in the Property by issuing up to
2,950,000 common shares and making cash payments of up to
$380,000
over a four year term to
exercise the Option. Upon obtaining Exchange approval of the Agreement, the Company issued a
total of 200,000 common shares to the Optionors in satisfaction of the Company's only committed
payment under the Agreement. The balance of the share issuances and the cash payments are all
at the Company's election should it wish to maintain the Option after the first year of the option term.
The shares issued in connection with the satisfaction of the committed payment under the
Agreement are subject to a hold period that expires on
August 2, 2020
.
About Stuhini Exploration Ltd.
: Stuhini is a mineral exploration company focused on the
exploration and development of precious and base metals properties with its primary 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 24 km east of
Atlin
.
Forward-Looking Statements
This news release contains "forward
looking information" within the meaning of Canadian securities
laws, which may include, but are not limited to statements relating to the Option and the exercise of
the Option. All statements in this release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are forward-looking statements.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements include
regulatory actions, fluctuations in metal and commodity prices, market prices, failure to obtain
permits, and continued availability of capital and financing, and general economic, market or
business conditions. In particular, there is no guarantee that exploration work, as proposed, or
otherwise, will be completed on the Property or that the Option will be exercised. Such forward-
looking information reflects the Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including those set out in the Company's prospectus. Investors
are cautioned that any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the forward-looking statements. There
can be no assurance that any forward-looking statements or information will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance on forward-looking statements or
information. Except as required by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
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/April2020/02/c5018.html
%SEDAR: 00046568E
For further information:
David O'Brien, President & Chief Executive Officer, Telephone: (604) 418-
4019, [email protected]
CO: Stuhini Exploration
CNW 09:25e 02-APR-20