Rokmaster Resources and Kootenay Resources Announce Signing of Definitive Option Agreement
Rokmaster Resources and Kootenay
Resources Announce Signing of Definitive
Option Agreement
VANCOUVER, BC
,
June 13, 2024
/CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1) ("Rokmaster" or "RKR") and Kootenay Resources Inc. (TSXV: KTRI)
("Kootenay Resources" or "KTR") are pleased to announce that further to their joint news release
dated
May 15, 2024
, Rokmaster and Kootenay Resources have entered into a definitive option
agreement (the "Option Agreement") with respect to the road accessible Fox-Coconut and Mystery
Properties, which are both located south of Highway 16 between
Prince George
and
Smithers
in
west-central British Columbia (collectively, the "Properties") (
Figure 1
).
Terms of the Option Agreement:
For RKR to be granted the option to acquire a 60% interest in the Properties, RKR must:
Incur
$142,000
of exploration work on the Properties prior to
September 18, 2024
;
Commencing on the first anniversary date of the Option Agreement, issuing to KTR 500,000
common shares of RKR each year on or before each of the first, second, third and fourth
anniversary dates of the Option Agreement; and
On or prior to the fourth anniversary date of the Option Agreement, RKR having completed a
total of 10,000 metres of diamond drilling on any or all of the Properties.
Once Rokmaster has acquired the initial 60% interest, (the "Initial Interest"), KTR would grant RKR
an exclusive option (the "Second Option") to acquire the remaining 40% interest in the Properties
(the "Second Interest") by issuing an additional 5,000,000 common shares of RKR to KTR within 60
days of having acquired the Initial Interest.
Upon RKR acquiring the Second Interest, RKR would grant KTR a 1.5% net smelter returns royalty
(the "Royalty") in respect of the Mystery and Coconut group of mining claims. The Fox group of
mineral claims have an existing underlying 2% net smelter returns royalty (the "Underlying Royalty"),
and KTR has the right to buy back the entirety of such Underlying Royalty at any time at a price of
$500,000
per 0.5% (the "Buy Back Right"). Should KTR buy back the entirety of such Underlying
Royalty within 90 days after the date of the commencement of commercial production on the Fox
group of claims, then RKR would also grant KTR the Royalty on such claims. If KTR does not so
exercise the Buy Back Right, then KTR would transfer it to RKR.
Closing of the transaction is subject to receipt of all requisite regulatory approvals.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
Kootenay Resources Inc.
John Mirko,
James McDonald,
President & Chief Executive Officer
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may
contain forward-looking information within the meaning of applicable securities laws ("forward-
looking statements"). Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events or results to differ materially from
those reflected in the forward-looking statements, including, without limitation: risks related to
fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work resulting from weather,
logistical, technical or other factors; the possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the risk of environmental
contamination or damage resulting from Rokmaster's or Kootenay Resources operations and other
risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and,
except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future
vents or results or otherwise.
Kootenay Resources Inc. Logo (CNW Group/Rokmaster Resources Corp.)
Nechako Project (CNW Group/Rokmaster Resources Corp.)
SOURCE
Rokmaster Resources Corp.
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For further information:
For more information please contact: Mr. John Mirko, President & CEO of
Rokmaster Resources Corp., [email protected], Ph. +1(604)290-4647 or by website:
www.rokmaster.com; For shareholder information please contact: Mike Kordysz,
[email protected],Ph. +1(604)319-3171; James McDonald, CEO and President of
Kootenay Resources Inc. at +1(403)880-6016, or visit: www.kootenayresources.com
CO: Rokmaster Resources Corp.
CNW 06:00e 13-JUN-24