Graycliff to acquire Shakespeare data for 2.3M shares

Executive Summary

• Graycliff Exploration Ltd. entered into an arm’s‑length asset purchase agreement to acquire geologic data, core, pulp and related material for its Shakespeare Gold Project.
• The consideration is 2.3 million common shares of Graycliff (≈ C$0.14 per share), subject to a staggered resale restriction schedule.
• Completion is conditional on customary closing conditions and CSE approval.

Key Details

• Transaction: Purchase of geologic data, core, pulp and related material for the Shakespeare Gold Project from vendor Mona McKinnon.
• Consideration: 2.3 million Graycliff common shares at a deemed issue price of C$0.14 per share (≈ C$322,000 total).
• Share Resale Restrictions:
• 25 % of the issued shares may be resold four months and one day after closing;
• an additional 25 % after six months;
• another 25 % after nine months;
• the final 25 % after twelve months.
• Closing Conditions: Subject to satisfaction of customary conditions precedent for such transactions, including approval by the Canadian Securities Exchange (CSE).
• Strategic Rationale: Acquisition will provide critical geological information to guide next steps in advancing the Shakespeare gold project.

Notable Quotes

“This acquisition will guide our next steps at Shakespeare as we advance our exciting gold project,” – Arndt Roehlig, President and CEO, Graycliff Exploration Ltd.