Zephyr Minerals, Slam Exploration Finalize Earn-In Agreement for Keezhik Claims
Capital pool company Zephyr Minerals Ltd. (ZFR-P.V) is steady at 37 cents per share after signing a definitive agreement with Slam Exploration Ltd (SXL.V), giving Zephyr the right to earn up to a 70% interest in the Keezhik Claims in the Pickle Lake region, Ontario, Canada and finalizing a deal first announced in June. Slam shares are up half a penny at 8.5 cents a share.
Terms of the deal call for Zephyr gaining a 50% interest by making cash payments totaling $104,500, issuing 594,000 common shares, and completing work programs on the Keezhik Claims with a total value of a minimum of $650,000 over a three-year period. It can earn an additional 20% stake with $121,000 in cash payments, issuing 880,000 common shares and completing work programs with a total value of a minimum of $900,000 over the next two years.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
Latest Markets Videos
- The $12 Trillion "Once-in-a-Lifetime" Market Opportunity Investors Won't Want to Miss
- J.P. Morgan Says These 3 Stocks Could Surge Over 100% From Current Levels
- Forget Tesla's Battery Day, These EV Stories Are More Important
- ChargePoint, Switchback Energy Acquisition Enter Business Combination Agreement