Yorkton updates option of Bellechase Timmins Project
Vancouver, BC – November 30, 2020 – Further to the Company’s news release of September 29, 2020, the Company reports that it has amended and restated the original option agreement of September 29, 2020, which remains subject to regulatory approval.
The option terms have been clarified to provide Royal Gold Mining Inc., now known as AuQ Gold Mining Inc. (“AuQ”) with an exclusive option to acquire 70% interest in the Property in two tranches of 35%.
The first tranche can be acquired by AuQ:
- Issuing a $350,000 10% promissory note due on or before October 2, 2022;
- Issuing 1,000,000 shares of AuQ to the Optionor
- Incurring $200,000 of property expenditures prior to October 2, 2021. The second tranche can be acquired by AuQ:
- Issuing a $350,000 10% 2 year promissory note on or prior to April 15,2021;
- Issuing 500,000 shares of AuQ to the Optionor
- Incurring $250,000 of property expenditures prior to October 2,
In addition, the Company is pleased to welcome Mr. Thomas R. Tough of Delta, British Columbia to the Board of directors to fill the vacancy arising from the resignation Mr. Nishal Kumar as a director.
For more information please visit www.sedar.com or contact:
Andrew Lee Smith, P.Geo., CEO Yorkton Ventures Inc.
Telephone: (604) 488-0822 E-mail: email@example.com
Neither the TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSX Venture Exchange; changes in tax laws, general economic and business conditions; and changes in the regulatory regulation. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.