Castlebar Capital Corp. Provides Update Respecting Proposed Qualifying Transaction
Castlebar Capital Corp.
(TSXV: CBAR.P) ( Castlebar or the Company ) is pleased to provide an update on its previously announced proposed transaction respecting the Southern Spectrum mineral property (the Property ) in British Columbia (the Transaction ) (see Castlebar s press releases dated December 11, 2020 and January 22, 2021). Castlebar previously announced that it had entered into a sale, assignment, assumption and amending agreement dated January 22, 2021 (the Definitive Agreement ) with 1162832 B.C. Ltd. ( 1162832 ) and Christopher R. Paul & Michael A. Blady (collectively, the Optionor ), pursuant to which Castlebar will assume all of 1162832 s right, title and interest, as optionee, in and to a property option agreement (the Option Agreement ) dated January 10, 2019, as amended September 10, 2020, respecting the Property.
Castlebar Capital Corp. Announces Proposed Qualifying Transaction
Castlebar Capital Corp.
(TSXV: CBAR.P) ( Castlebar or the Company ) is pleased to announce that it has entered into a non-binding letter of intent (the LOI ) dated December 9, 2020 with 1162832 B.C. Ltd. (the Assignor , a British Columbia corporation) respecting a proposed transaction (the Transaction ) pursuant to which Castlebar intends to assume all of 1162832 s right, title and interest, as optionee, in and to a property option agreement (the Option Agreement ) dated January 10, 2019, as amended September 10, 2020, respecting the Southern Spectrum mineral property (the Property ) in British Columbia. Under the LOI, Castlebar and the Assignor have agreed to act in good faith to draft, negotiate and execute a definitive agreement (the Definitive Agreement ) respecting the Transaction, which will supersede the LOI.