Americore Resources Corp. Amends Acquisition Terms with Nevada Hills Gold LLC
Executive Summary
- Americore Resources Corp. amended its acquisition agreement with Nevada Hills Gold LLC for the purchase of mineral claims in Nevada.
- Total consideration now consists of two installments of US$100,000 cash plus 250,000 common shares each (total 500,000 shares), payable upon TSX Venture Exchange approval and 15 months thereafter.
- The Vendor will retain a 0.5% Net Smelter Return royalty on future production, with potential buy‑back rights for Americore.
Key Details
- Amended Consideration:
- First tranche – US$100,000 cash + 250,000 Americore common shares payable upon Exchange approval.
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Second tranche – US$100,000 cash + 250,000 Americore common shares payable 15 months after Exchange approval.
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Royalty Terms:
- Vendor retains a 0.5% NSR royalty on any future mineral production from the acquired claims.
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Company may negotiate partial or full buy‑back of the royalty in the future, subject to exchange policies.
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Share Hold Period: All shares issued under the amendment are subject to a statutory four‑month hold period per securities law and Exchange rules.
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Transaction Structure: Remains non‑arm’s length as defined by TSX Venture Exchange policies; no finder’s fees payable.
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Closing Conditions: Subject to customary conditions, including approval by the TSX Venture Exchange. Completion is not guaranteed.
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Strategic Rationale: Americore describes the acquisition as a strategic, growth‑focused addition to its Nevada mineral portfolio, complementing the Trinity Silver Project.
Notable Quotes
(No direct quotes were provided in the release.)