Brand X Lifestyle Corp.: Brand X Lifestyle Corp Announces Joint Venture Option Agreement
Brand X Lifestyle Corp. (CSE: BXXX) ( Brand X or the Company ).
Brand X Lifestyle Corp. is pleased to announce that it has entered into a Joint Venture Option Agreement with arms-length vendors to acquire a 100% interest in the Urban Barry Gold Project. The Urban Barry Gold project covers an area of 1126 hectares in the Urban Barry Gold greenstone belt, central Quebec and lies completely within claims held by Osisko Mining Inc., the largest landholder in the camp.
Under the terms of the agreement, Brand X can acquire a 100% interest in the project by issuing an aggregate of 9,000,000 common shares, paying $1,300,000 over three years, and completing $2,100,000 in exploration. No new insiders will be created as a result of this transaction. In addition, a 1% (one percent) Gross Overriding Royalty has been granted to the vendors, of which ½% (one-half percent) can be purchased from the vend