Opus One Gold Corp. Announces Update on its Fecteau Property Deal
February 02 2021 - 1:32PM
Opus One Gold Corp. (OOR : TSXV)
(“
Opus One Gold” or the
“
Company”), in connection with the amendment of
its option agreement on the Fecteau property announced on October
15, 2020, the Company is pleased to announce that it has made a
second payment to the property owners in the amount of $75,000,
half of which is payable in common shares of the Company at a
deemed price per share of $0.07 (535,714 common shares), as
consideration for the amendment to the original option agreement on
the Fecteau property.
Following this payment, the Company’s remaining
option payments total $175,000 along with exploration expenditure
commitments totaling $500,000 (of which an amount of $150,000 is to
be incurred on or before December 31, 2021). Moreover, the parties
have agreed that 50% of the remaining option payments shall be
payable in common shares of the Company at a price per share equal
to the closing price of such shares on the TSX Venture Exchange
(the “Exchange”) on the trading day immediately
before the date of issuance, subject to the minimum price allowed
by the policies of the Exchange. For certainty, all option payments
payable in shares shall not exceed a maximum of 2,395,833 common
shares, of which 848,214 common shares have been issued thus
far.
For more information on the amendment and the
first payment, see news release dated October 15, 2020.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release.
For more information, please
contact:
Louis Morin Chief Executive Officer &
Director Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA President, Chief
Financial Officer & Director Tel: (902) 826-1579
info@OpusOneGold.com
Visit Opus One’s website: www.OpusOneGold.com
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