Common Contracts
1 similar Letter of Intent contracts
April 6, 2022 – Vancouver, B.C. – Brascan Gold Inc. (CSE: BRAS) (“Brascan” or the “Company”), together with its subsidiary Baie Verte Resources Inc., has entered into a letter of intent (the “Letter of Intent”) with Quinlan Prospector’s Group...Letter of Intent • April 5th, 2022
The Letter of Intent contemplates the Company’s and Quinlan’s entry into of a definitive option agreement with Quinlan (the “Definitive Agreement”) for Brascan to earn a 100% interest in the Properties upon the completion of the following within 48 months of execution of the Definitive Agreement: (i) making aggregate cash payments to Quinlan in the amount of $281,000; (ii) issuing an aggregate of 2,100,000 common shares of the Company to Quinlan or its nominee; and (iii) incurring an aggregate of $400,000 in exploration expenditures to fully complete an exploration program. The share issuances and cash payments will gradually increase over the term of the Definitive Agreement. Upon
