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Aben Gold Receives First Payment of Option Agreement
Globenewswire· 2025-12-30 12:00
Core Viewpoint - Aben Gold Corp. has successfully received the first payment under an option agreement with Kingfisher Metals Corp., marking a significant step in the acquisition process of the Forrest Kerr Project [1][2]. Group 1: Option Agreement Details - Aben Gold has granted Kingfisher a three-year option to acquire a 100% interest in the Forrest Kerr Project, which consists of 50 mineral claims covering approximately 20,197 hectares [2]. - The total commitment for Kingfisher to earn the 100% interest includes combined cash and share issuance commitments amounting to CAD $2.7 million [2]. Group 2: Financial Terms - The first payment received by Aben Gold includes CAD $150,000 and 1,886,792 shares of Kingfisher, with the total cash payments structured as follows: - On the closing date: CAD $150,000 and shares valued at CAD $500,000 - Within 6 months: CAD $150,000 and shares valued at CAD $500,000 - Within 12 months: CAD $200,000 and shares valued at CAD $500,000 - Within 36 months: CAD $700,000 [4]. Group 3: Project Management - Kingfisher will act as the operator of the Forrest Kerr Project during the option period, indicating a collaborative approach to project development [3][5]. Group 4: Company Overview - Aben Gold Corp. is a Canadian gold exploration company with projects in the Yukon Territory and British Columbia, aiming to enhance shareholder value through new discoveries and development in favorable jurisdictions [7]. - The company currently has 23.2 million shares outstanding [8].
Aben Gold Signs Option Agreement with Kingfisher Metals for Forrest Kerr Project in the Golden Triangle
Globenewswire· 2025-12-04 10:00
Core Viewpoint - Aben Gold Corp. has entered into an option agreement with Kingfisher Metals Corp. for Kingfisher to acquire a 100% interest in the Forrest Kerr Project over a three-year period, involving a total commitment of CAD $2.7 million in cash and shares [1][2]. Agreement Details - The option agreement allows Kingfisher to earn 100% interest in the Forrest Kerr Project by making cash payments and issuing shares totaling CAD $2.7 million over three years [2]. - The cash payment schedule includes: - CAD $150,000 on the closing date - CAD $150,000 within six months - CAD $200,000 within twelve months - CAD $700,000 within thirty-six months - The share issuance will total CAD $1.5 million, with the deemed price being the higher of the 5-day VWAP or the last closing price less a maximum allowable discount of 25% [3]. Project and Company Focus - Aben Gold will receive CAD $2.7 million in cash and shares, allowing the company to focus on its flagship Justin Gold Project in Yukon, while Kingfisher will operate the Forrest Kerr Project during the option period [4][5]. - Kingfisher Metals Corp. is focused on copper-gold exploration in the Golden Triangle of British Columbia and has consolidated a significant land position in the region [5]. Company Background - Aben Gold Corp. is a Canadian gold exploration company with projects in Yukon and British Columbia, aiming to increase shareholder value through new discoveries [7]. - The company has 23.2 million shares outstanding [8].
Aben Gold Signs Option Agreement with Kingfisher Metals for Forrest Kerr Project in the Golden Triangle
Globenewswire· 2025-12-04 10:00
Core Viewpoint - Aben Gold Corp. has entered into an option agreement with Kingfisher Metals Corp. for Kingfisher to acquire a 100% interest in the Forrest Kerr Project over a three-year period, involving a total commitment of CAD $2.7 million in cash and shares [1][2]. Agreement Details - The option agreement allows Kingfisher to earn 100% interest in the Forrest Kerr Project by making cash payments and issuing shares totaling CAD $2.7 million over three years [2]. - The cash payments and share issuance schedule is as follows: - On Closing Date: CAD $150,000 cash and CAD $500,000 in shares - Within 6 months: CAD $150,000 cash and CAD $500,000 in shares - Within 12 months: CAD $200,000 cash and CAD $500,000 in shares - Within 36 months: CAD $700,000 cash [3]. Project and Company Background - The Forrest Kerr Project consists of 50 mineral claims covering approximately 20,197 hectares located in the Golden Triangle of British Columbia [1]. - Kingfisher Metals Corp. is focused on copper-gold exploration in the Golden Triangle and has consolidated a significant land position in the region, including the 933 km² HWY 37 Project and the 202 km² Forrest Kerr Project [5]. - Aben Gold Corp. aims to enhance shareholder value through new discoveries and development of exploration projects in favorable jurisdictions, with its flagship project being the 7,400-hectare Justin Gold Project in Yukon [7].
Cadillac Ventures Inc. Enters into Option Agreement for the Burnt Hill Tungsten Project in New Brunswick
Thenewswire· 2025-10-08 18:05
Core Points - Cadillac Ventures Inc. has entered into an option agreement with Nexcel Metals Corp. and Wyloo Ring of Fire Ltd. for a potential 58% interest in the Burnt Hill Tungsten Project located in New Brunswick, Canada [1][4] Agreement Terms - The Optionee can acquire the 58% interest in four stages, starting with a payment of $170,000 in cash and issuing $330,000 in common shares [2] - The first option allows the Optionee to earn up to 29.6% interest, followed by additional payments and share issuances to reach 38.3%, 46.4%, and finally 58% [2] - All common shares issued will be subject to statutory hold periods and voluntary resale restrictions over a 36-month period [3] Joint Venture Formation - Upon earning a 51% interest, a joint venture will be established among the Optionee, Cadillac, and the Minority Owner, with the latter's 42% interest remaining unaffected unless a future acquisition is agreed upon [4]
Goldrea Options Hanstone's Snip North Property
Newsfile· 2025-10-03 13:40
Core Viewpoint - Goldrea Resources Corp. has entered into an option agreement to acquire a 70% interest in Hanstone Gold's Snip North property, expanding its mineral land package significantly in the Golden Triangle region of British Columbia [1][2]. Group 1: Agreement Details - The option agreement, dated September 29, 2025, allows Goldrea to acquire 70% of the Snip North property, which spans 3,400 hectares, increasing Goldrea's total mineral land to 8,500 hectares if the option is exercised [1]. - To earn the 70% interest, Goldrea must incur exploration expenditures totaling $1.25 million over four years, with specific annual spending requirements [2]. - Goldrea has already allocated $100,000 of its 2025 exploration budget to the property to maintain its good standing until November 30, 2026 [2]. Group 2: Joint Venture and Future Plans - Upon earning the 70% interest, Goldrea will enter a joint venture with Hanstone, with Goldrea serving as the initial operator [2]. - The CEO of Goldrea highlighted the significance of this joint venture in enhancing the company's holdings in the Golden Triangle, emphasizing the potential for financing a major exploration program in 2026 due to favorable gold and copper markets [3].
Hayasa Metals Announces Option Agreement on Vardenis Copper-Gold Project
Newsfile· 2025-08-27 10:30
Core Viewpoint - Hayasa Metals Inc. has entered into an amended and restated option and joint venture agreement with Teck Resources Limited, granting Teck the exclusive option to acquire up to an 80% interest in Mendia Resources LLC, which owns the Vardenis copper-gold project in Armenia [1][2]. Agreement Highlights - The agreement allows Teck to acquire a 70% interest in Mendia by incurring US$15 million in exploration expenditures by December 31, 2029, completing 4,300 meters of diamond drilling by October 31, 2026, and making required payments to the existing majority shareholder [5]. - If Teck exercises the initial option, it can acquire an additional 10% interest by delivering a National Instrument 43-101 compliant pre-feasibility study within six years [5]. - Teck will be responsible for all expenditures related to the Vardenis Project during the option terms, while Hayasa will initially manage the project [5]. - If Teck incurs at least US$2.5 million in the first 30 months but does not exercise the initial option, the agreement will terminate, and Teck will receive a 1.0% net smelter returns royalty [5]. - A corporate joint venture will be formed if Teck exercises the initial option and either does not pursue the second option or exercises it [5]. Project Overview - The Vardenis Project is located in the Central Tethyan Belt in Armenia, covering 9,399 hectares and is accessible by road [7]. - The project is situated 25 km from the Amulsar gold deposit, with previous exploration indicating significant mineralization potential [8]. - In late 2023, Hayasa completed 770 meters of diamond drilling in the Razmik copper-molybdenum zone, revealing strong alteration and mineralization indicative of porphyry-style deposits [8]. Management Changes - Hayasa's Chief Financial Officer, Paul Hansed, will retire at the end of 2025, after a 17-year career in the junior mining sector [9][10].
Terra Balcanica Closes First Tranche While Extending LIFE Offering and Exercises First Year of Option Agreement
Globenewswire· 2025-07-11 20:00
Core Points - Terra Balcanica Resources Corp. has closed the first tranche of its private placement, raising gross proceeds of C$814,914 through the issuance of 8,149,141 units at a price of C$0.10 per unit [1] - The company is extending the final closing date of the private placement to raise total gross proceeds of up to C$1,117,495 by August 11, 2025 [2] - The President and CEO of the company, Aleksandar Mišković, highlighted significant participation from Dundee Corporation, indicating strong interest in the company's work [3] - The company is exercising its option to acquire a 100% interest in several uranium licence clusters from Fulcrum Metals, involving a cash payment of C$50,000 and the issuance of C$350,000 in common shares [5] - Terra Balcanica is focused on large-scale mineral systems in the Balkans and northern Saskatchewan, with a 90% interest in the Viogor-Zanik Project and a 100% optioned portfolio of uranium-prospective licences [7]