POWER GROUP PROJECTS CORP. ("PGP")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: August 26, 2022
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to Share Purchase Agreement (the Agreement), dated June 6, 2022, between the Company and 1311516 B.C. Ltd. (the "Target"), whereby the Company has acquire all issued and outstanding shares of the Target, which owns option agreements dated February 25, 2022 and March 3, 2022 with Cloudbreak Discovery PLC and Cloudbreak Discovery (Canada) Ltd., which give the Target an option to acquire certain interest in mineral claims of the Rizz Project and the Icefall Project located in the Province of British Columbia (collectively the "Projects").
Under the terms the Agreement, the Company has agreed to acquire the Target by issuing up to 46,200,000 common shares. Furthermore, in order to obtain 75% interest in the Projects, the Company will have to pay up to $240,000 in cash and incur an aggregate of $1,450,000 in exploration expenses over the period of three years.
For more information, please refer to the Company's news releases dated April 25, 2022 and July 6, 2022.
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