- Pasofino Gold (VEIN) amends an agreement to sell its 50 per cent interest in the Roger Gold-Copper Project located in Québec
- The total purchase price under the transaction remains the same, however, the timing for payment of some of the share consideration has been deferred
- Pursuant to the amendment, on closing, QC Copper will pay Pasofino $1 million in cash and issue over 1.1 million common shares of QC Copper
- Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSXV, OCTQB, and FSE
- Pasofino Gold Limited (VEIN) is up 6.25 per cent and is trading at C$0.085 at 1:45 pm ET
Pasofino Gold Limited (VEIN) has amended the terms of the agreement with QC Copper & Gold Inc.
Pasofino is selling its 50 per cent interest in the advanced-stage Roger Gold-Copper Project, located in Québec’s prolific Abitibi Greenstone Belt, to QC Copper.
Pursuant to the amendment, the total purchase price under the transaction remains the same, however, the timing for payment of some of the share consideration has been deferred.
Pursuant to the amendment, on closing, QC Copper will pay Pasofino $1 million in cash and issue over 1.1 million common shares of QC Copper.
The balance of the common shares (4,350,000 common shares of QC Copper) will only be issued if a new NI 43-101 technical report is produced on the project within 6 months of the closing date of the transaction and that the report demonstrates a resource calculation that is at least equal to or greater than that contained in the 43-101 report dated October 9, 2018.
Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN), OCTQB (EFRGF) and FSE (N07).
Through its wholly-owned subsidiary, ARX Resources Limited, Pasofino has an option to earn a 49 per cent economic interest in the Dugbe Gold Project, subject to satisfaction of the terms of the option agreement.
Pasofino Gold Limited (VEIN) is up 6.25 per cent and is trading at C$0.085 at 1:45 pm ET.