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