November 24, 2016 11:07 ET
MONTREAL, QUEBEC--(Marketwired - Nov. 24, 2016) - KHALKOS EXPLORATION INC. ("Khalkos") (TSX VENTURE:KAS) - Management of Khalkos Inc. is pleased to announce an agreement has been reached between J.A.G Mines Ltd ("JAG") and Khalkos to obtain 100% of the Malartic property, comprised of 24 mining claims owned by JAG. The agreement stipulates that Khalkos will first obtain 55% interest of the property, as originally agreed between JAG and Khalkos in 2015, in return for a final payment of 20,000$ and the issuance of 400,000 shares of Khalkos. To obtain the remaining 45%, Khalkos will need to make a 200,000$ cash payment and issue 2 million shares of its capital stock to JAG in the 60 days following the signature of the present agreement. Once Khalkos have acquired 100% interest, JAG will retain a 1% NSR. The agreement is subject to the approval of the TSX-Venture Exchange.
Robert Gagnon, President of Khalkos Exploration states: "Once this strategic acquisition is completed, Khalkos will control the totality of interest of the JAG Malartic property in addition to the 100% interest that it holds of Malartic Lakeshore and its option to acquire 100% of the Révillard property. These three adjacent properties represent more than 80 claims covering approximately 33 km2 in the heart of a world-class mining camp."
This press release was prepared by Robert Gagnon, President of Khalkos, Qualified Person pursuant to National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robert Gagnon, Geo.President(819) 825-2303(514) 510-7964 (FAX)email@example.comChristian Guilbaud, B.B.ACorporate development(514) 813-7862(514) 510-7964 (FAX)firstname.lastname@example.org
See all RSS Newsfeeds