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Calgary, Alberta (Newsfile Corp. - February 5, 2021) - Athabasca Minerals Inc. (TSXV: AMI) ( Athabasca , the Corporation or AMI ) is pleased to announce the following:
AMI has bought out the at arm s length partners of Privco1 and Privco2 to secure 100% ownership of each company, which respectively hold the Montney and Duvernay premium domestic sand deposits. These transactions were combined and concluded for eight million AMI shares (plus $1.00), to be issued in three milestone installments and valued at $2.0 million in total.
The Corporation is also using AMI shares to make one final Annual Minimum Royalty ( AMR ) payment for Privco1, relating to the Montney deposit, valued at $200,000, with three corresponding milestone installments.