Black Tusk Resources Inc. Enters into Agreement to Acquire Mckenzie East Project in Quebec
November 13, 2019 - TheNewswire - Vancouver, BC - Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CNSX:TUSK.CN) is pleased to announce that it has entered into an agreement to acquire Golda Resources Inc., the 100% owner of the McKenzie East Project (the "Property"). The Property consists of 46 claims across 1,676.25 hectares of claims located 35km North of Val-D'Or.
The acquisition of the property is to be completed via share purchase agreement between the Company, Golda Resources Inc., and its shareholders. The Company is required to issue 5,000,000 common shares to the shareholders of Golda in exchange for 100% of the common shares of Golda. The Company is also required to issue 500,000 common shares to predecessor vendors of the Property in fulfillment of Golda's obligation to issue $25,000 worth of common shares of Golda (or its listed affiliate) upon completion of a liquidation event.
"We are extremely excited to acquire this property and expand the Company's We are extremely pleased to acquire this gold property in Val D'Or, which continues to expand our footprint in the Abitibi greenstone-belt of Quebec" said Richard Penn, CEO of the Company.
Forward Looking Information
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to obtaining regulatory approvals including that of the Canadian Securities Exchange, exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923
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