Canadian Silver Hunter Announces Execution of Agreement to Sell Lost Dog Property
Toronto, August 22, 2023 - Canadian Silver Hunter Inc. (TSXV: AGH.H) ("CSH") is pleased to announce that it has entered into an agreement (the "Agreement") with 15083974 Canada Inc. ("CAN") on August 15th 2023, for the sale by CSH of a group of 45 mining claims totaling approximately 1300 hectares, located in Denton Township, West Timmins Ontario, known as the "Lost Dog" property (the "Property").
Terms of the Sale
Pursuant to the Agreement, in consideration for the transfer of a 100% registered and beneficial interest in the Property from CSH to CAN, CAN will make a cash payment to CSH of $165,000. CSH will retain a 1% royalty on net smelter returns payable from future commercial production from the Property. Additionally, CAN will grant to Timothy Towers a 2% royalty on net smelter returns payable from future commercial production from the Property.
The Agreement remains subject to CSH exercising in full its option to acquire the Property pursuant to the option agreement with Timothy Towers dated October 23, 2020, as amended, by making a cash payment of $40,000 and issuing 500,000 shares to Timothy Towers, subject to the approval of the TSX Venture Exchange.
About Canadian Silver Hunter, Inc.
Canadian Silver Hunter Inc. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold, silver, cobalt, nickel and copper properties in Ontario and Quebec.
For more information, please contact:
Jeffrey Hunter, President & Chief Executive Officer
Telephone: (416) 707-4230
jhunter@cshi.ca
www.canadiansilverhunter.ca
Reader Advisory
This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "propose," "new," "potential," "prospective," "target," "future," "verge," "favourable," "implications," and "ongoing," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Without limiting the generality of the foregoing statements, any discussion of the potential of exploration targets is forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178034
