Diagnos Announces Sale of 22 Concessions to Threegold Resources
Diagnos Inc. (ADK.V) which produces knowledge extraction and artificial intelligence tools, announced today the sale of its Collines Bearn and Dalquier properties to Threegold Resources Inc (THG.V), located directly beside Threegold's Rousseau West property. Those properties are found approximately 85 km from the city of Rouyn Noranda and 13 km from the city of Amos in Abitibi and correspond to 22 mining titles on a map totaling 1,282 hectares.
Threegold Resources will acquire 100% of the concessions by making cash payment of $10,000 and by issuing 200,000 common shares of Threegold Resources on behalf of Diagnos. Also, a 2% royalty on the net return of the smelting revenues associated with the minerals and concentrates to be extracted from the concessions will be received by Diagnos. The purchase agreement stipulates that Threegold Resources may, at any time, reduce the royalty from 2% to 1% by paying Diagnos $1,000,000 in cash.
Threegold is unchanged at 5.5 cents.
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