Rev Exploration to acquire Chibougamau mineral claims

Executive Summary

• Rev Exploration Corp. has entered into an asset purchase agreement to acquire a 100% interest in mineral claims and associated rights in Quebec's Chibougamau gold camp from an arm's-length private vendor.
• The acquisition expands Rev's total land package in the Chibougamau gold camp to approximately 52,000 hectares (520 square kilometres), adding just over 6,700 hectares to its existing holdings.
• The transaction consideration includes cash payments, equity issuance, and a royalty interest, subject to customary closing conditions including regulatory approvals and TSX Venture Exchange acceptance.

Key Details

• Transaction Structure: Asset purchase agreement for a 100% interest in mineral claims and associated rights.
• Vendor: An arm's-length private Quebec-based company.
• Consideration:
  • Cash: Total of $150,000, consisting of a $25,000 deposit and the remainder paid on closing.
  • Equity: Issuance of common shares valued at $350,000 to the vendor on closing.
  • Royalty: Grant of a 1.0% net smelter return (NSR) royalty in favour of the vendor.
• Land Expansion: The acquired claims comprise just over 6,700 hectares.
• Total Land Package: Post-acquisition, Rev's total land package in the Chibougamau gold camp will be approximately 52,000 hectares (520 square kilometres).
• Closing Conditions: Subject to customary conditions, including receipt of all required regulatory approvals and acceptance of the agreement by the TSX Venture Exchange.

Notable Quotes

• No direct quotes from management were included in the provided text.