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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
Guardian Exploration Inc.: Guardian Provides Update on Proposed Acquisition of Yukon Mining Property
Calgary, Alberta (Newsfile Corp. - January 15, 2021) - January 15, 2021. Guardian Exploration Inc. (TSXV: GX) (the
Corporation ) is pleased to provide an additional update on its proposed acquisition of mining assets located in the Mayo Mining District in the Yukon known as the Mount Cameron Property (the
Acquisition ).
The Corporation continues to pursue the completion of the Acquisition. The definitive agreement with respect to the Acquisition allows for the termination of the agreement in the event that the Acquisition does not close by February 28, 2021, unless extended by mutual agreement of the parties. The previous termination date was extended by the parties to February 28, 2021 on January 15, 2021.