Guardian Exploration Inc.: Guardian Announces Acquisition of Yukon Mining Property
Corporation" or "
Acquisition") from DG Resources Management Ltd. ("
DGM") and Graydon Kowal ("
Kowal" and together with DGM, the "
Vendors") of their interests in and to a mining property known as the Mount Cameron Property located in the Mayo Mining District in the Yukon (the "
Assets"). The acquisition was first announced in the Corporation's press release dated May 21, 2020.
In consideration for the Assets, the Corporation issued 4,000,000 Common Shares in the share capital of Guardian to the Vendors and a 2% Net Smelter Royalty, which Net Smelter Royalty shall be repurchaseable by Guardian from the Vendors at a price of $1,000,000 for a period of five years. The Corporation also assumed debt in the amount of $50,000 owed by Graydon Kowal to Dahrouge Geological Consulting Ltd. (an affiliate of DGM) and debt in the amount of $10,000 owed by DGM to Dahrouge Geological Consulting Ltd. (the "