YORK HARBOUR METALS INC. ("YORK")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 21, 2022
TSX Venture Tier 2 Company
TSX Venture Exchange (?Exchange?) has accepted for filing documentation of the Letter Agreement (?Agreement?) dated May 10, 2022 among Grassroots Prospecting & Prospect Generation Inc., United Gold Inc., G2B Gold Inc., (collectively, the ?Vendors?) and the Company. Pursuant to the terms of the Agreement, the Company will buyback an aggregate 1.5% Net Smelter Royalty (?NSR?) in respect of the Mineral Property Option Agreement dated February 26, 2021 between the Company and the Vendors (?Option Agreement?). The NSR will be acquired by the Company in equal 0.5% parts from each of the Vendors in consideration of $500,000 cash payment to each Vendor and an issuance of 1,500,000 common shares at a deemed price of $1.00 per common share (?Consideration Shares?) to each Vendor. The Consideration Shares will be subject to an escrow agreement wherein 25% will be released every six months over a 24-month period.
The Vendors will retain a 0.5% NSR pursuant to the Option Agreement.
For further information, please refer to the Company?s news releases dated May 12, 2022.
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