Pedro Resources Ltd. Announces Acquisition of Voisey's Bay
14.07.2021 | Newsfile
![Pedro Resources Ltd. Announces Acquisition of Voisey's Bay](https://www.goldseiten.de/media/goldseiten-news.jpg)
As consideration for the Transaction, the Company issued an aggregate of 8,000,000 common shares in the capital of the Company (the "Consideration Shares") at a deemed price of $0.08 per Consideration Share to the Vendors issued in six (6) equal allotments over a period of three (3) years, and cash payments of $165,000 payable on each of the first three anniversaries of the closing of the Transaction. All securities issued pursuant to the Acquisition are subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.
In connection with the Transaction, the Company has granted a 2.5% net smelter returns royalty ("NSR") in favour of a syndicate, subject to the ability of the Company to purchase 1% of the NSR (resulting in the remaining NSR being 1%) for a purchase price of $1,500,000 at any time before fifth anniversary of the date hereof.
About Pedro Resources Ltd.
Pedro Resources Ltd. is a Canadian exploration company focused on mineral exploration and development.
For further information, contact:
On behalf of the Board,
Brian Stecyk, Chief Executive Officer and Director
Tel: 780-953-0111
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future exploration work or drilling, and the expansion of the mineralization. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Gold Rush Cariboo Inc.., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.