VANCOUVER, BC / ACCESSWIRE / October 26, 2020 / HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSXV:HAWK)(Frankfurt:HGT) (WKN: A12A61 ISIN: CA42016R3027): is pleased to announce that it has entered into an Amendment No. 1 of Sale and Order Agreement (the “Amending Agreement”) with the seller of the Company’s 100% owned Bonanza Property (the “Property”) to amend specific phrases of the initial Sale and Buy Settlement (the “SAPA”) with the seller dated January 16, 2017 (information release No. 261 – 2017). The 123.8 hectare Bonanza home is found approximately 110 kilometres northwest of Campbell River and 69 kilometres southeast of Port Hardy situated on the northern end of Vancouver Island, British Columbia, Canada.
Under phrases of the Amending Settlement, the vendor agreed to revise circumstances relating to the space of interest and do away with just one of the two varieties of royalties payable to the vendor beneath phrases of the SAPA relating to a $2.00 for each tonne royalty from the output of magnetite from the Residence. Royalties from the sale of magnetite will now be bundled in the 2% internet smelter royalty (NSR) payable to the vendor from production of all minerals together with magnetite from in, on or less than the Home. The Organization has the right to acquire 1.5% of the NSR for $1,500,000 leaving the vendor with a .5% desire in the NSR. HAWKEYE will have very first legal rights of refusal till October 14, 2030 to obtain the remaining .5% of the NSR.
In thought for these amendments the Issuer agreed to shell out the seller $3,750 in income and difficulty 150,000 shares in the cash of the Enterprise to the vendor in just fifteen (15) times of TSX Undertaking Exchange acceptance for submitting of the Amending Settlement. An supplemental 150,000 shares will be issued to the vendor upon the Enterprise obtaining a Preliminary Financial Evaluation Report on the House.
The Amending Settlement is subject to regulatory approval and shares issued to the vendor will be subject to a four (4) thirty day period hold period of time from issuance.
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and improvement organization based mostly in Vancouver, British Columbia, Canada. The Company’s precious and base metals qualities are situated in the prolific Golden Triangle of northwest BC, in the globe-class Barkerville gold camp, and on Vancouver Island, BC, Canada. HAWKEYE’s corporate mandate is to create powerful asset development and shareholder worth by the acquisition of minimal-cost, large-likely alternatives with discovery potential, and to manage its business in an environmentally dependable manner while contributing to the neighborhood community and financial system.
HAWKEYE GOLD & DIAMOND INC.
President & CEO
Vancouver: (604) 908-8511
Internet Web-site: www.hawkeyegold.com
Neither TSX Undertaking Trade nor its Regulation Expert services Supplier (as that phrase is defined in the procedures of the TSX Undertaking Trade) accepts duty for the adequacy or accuracy of this launch.
Cautionary Notes Regarding Forward On the lookout Statements
This Information Release is made up of forward-wanting statements. Ahead-wanting statements are statements that relate to potential events. These statements are only predictions and involve recognized and unknown risks, uncertainties and other variables that may well result in our or our industry’s real outcomes, ranges of action, functionality or achievements to be materially unique from any potential effects, amounts of exercise, functionality or achievements expressed or implied by these ahead-looking statements. Even though these ahead-seeking statements, and any assumptions upon which they are based, are manufactured in fantastic faith and reflect our recent judgment concerning the path of our sector, precise final results will virtually usually fluctuate, from time to time materially, from any estimates, predictions, projections, assumptions or other long term functionality prompt herein. Except as necessary by applicable law, the Company does not intend to update any of the ahead-on the lookout statements to conform these statements to real success.
Source: HAWKEYE Gold & Diamond Inc.
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