UPDATE: Lake Shore Gold Slightly Up, Well Off Day Highs; Last Week Inked Pact for Option on Mexican Exploration Properties

Lake Shore Gold Inc (LSG.TO) is up 2 cents at $1.17 but is off a day high $1.25 with 14 million shares traded, making it the most active on the TSX.

December 14, Lake Shore Gold said it signed a formal option agreement with Revolution Resources Corp. through which Revolution may acquire up to 100% of the Company's four Mexican property positions, including the Universo, Montana de Oro, Lluvia de Oro and La Bufa properties.

As a result of signing the formal agreement, Revolution will issue to LSG common shares representing a 9.9% equity interest in Revolution. Included in the terms of the agreement are requirements that will allow Revolution to acquire a 60% interest in the Company's Mexican properties as well as additional requirements through which Revolution can acquire a 100% interest in some or all of the properties.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.