March 23, 2017 10:33 ET
MONTREAL, QUEBEC--(Marketwired - March 23, 2017) - EXPLORATION KHALKOS. ("Khalkos") (TSX VENTURE:KAS) Khalkos announces the signing of two agreements aiming at the buyback of 3% NSR royalties on 26 claims of the Malartic Lakeshore block on its Malartic property and of a 1% NSR royalty on its Forsan property. The completion of these buybacks is subject to the approval of the TSX Venture Exchange.
For the Malartic Lakeshore block, Khalkos will pay $15,000 in cash ($5,000 has already been paid and is not reimbursable) and issue 1,500,000 common shares to the holders of the royalties. Following the buyback, no royalty will remain on the Malartic Lakeshore block.
For the Forsan property, Khalkos will issue 250,000 common shares to the royalty's owner. Following the buyback, the Forsan property will be subject to a royalty of 2% NSR.
There will be a hold period of four months and one day on all common shares issued.
By buying back the existing royalties from the Malartic Lakeshore block, Khalkos bolsters its intention to become a major player in the world-class Malartic mining camp. Khalkos controls more than 10 km of first-class land in one of Canada's most active mining camps.
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.
Khalkos Exploration Inc.Robert GagnonPresident(819) 825-2303(514) 510-7964 (FAX)firstname.lastname@example.orgKhalkos Exploration Inc.Christian GuilbaudCorporate Development(514) 813-7862(514) 510-7964 (FAX)email@example.com
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