- Pasofino Gold has agreed to sell its 50 per cent interest in the Roger Gold-Copper Project to QC Copper & Gold (TSXV:QCCU)
- The purchase price is C$2,250,000, payable as $1,000,000 in cash and $1,250,000 in shares of QC Copper & Gold
- Pasofino Gold Ltd. is a Canadian-based mineral exploration company
- Pasofino Gold Ltd. (VEIN) opened trading at C$0.09 per share
Pasofino Gold Limited (VEIN) has agreed to sell its 50 per cent interest in the Roger Gold-Copper Project to QC Copper & Gold.
The Roger Gold-Copper Project is located in Quebec’s prolific Abitibi Greenstone Belt.
The purchase price is $2,250,000, payable as $1,000,000 in cash and $1,250,000 in shares of QC Copper & Gold.
The closing of the transaction is subject to SOQUEM Inc., Pasofino’s joint venture partner in the project, waiving or choosing not to exercise its right of first refusal to acquire the company’s interest and the approval of the TSX Venture Exchange.
Pasofino President & CEO Ian Stalker commented,
“QC Copper & Gold will be a very good fit for the Roger Project, in our opinion, having had significant experience of working in that area of Quebec. For Pasofino Gold, this sale allows us to fully focus on our core Dugbe Gold Project in Liberia where we are busy with the feasibility study that is expected to complete by year-end.
“We take this opportunity of recognizing the work done over the period by SOQUEM Inc. our JV partner in the project and until recently the designated ‘Operator of the Project’. Their professional approach has been a pleasure to work with and we wish both Parties well for the future.”
Pasofino Gold Ltd. is a Canadian-based mineral exploration company.
Through its wholly-owned subsidiary, ARX Resources Limited, Pasofino has an option to earn a 49% economic interest (prior to the issuance of the Government of Liberia’s 10% carried interest) in the Dugbe Gold Project, subject to satisfaction of the terms of the option agreement.
Pasofino has also earned a 50% interest in the advanced-stage Roger Gold-Copper Project located in Quebec’s prolific Abitibi Greenstone Belt.
Pasofino Gold Ltd. (VEIN) opened trading at C$0.09 per share.