Common Contracts
1 similar Earn-in Agreement contracts
Agree to US$10.0M Earn-In Agreement on Precipitate’s Pueblo Grande Project and US$1.0M Private PlacementEarn-in Agreement • April 13th, 2020
Vancouver, B.C. – April 14, 2020 - Precipitate Gold Corp. (“Precipitate” or the “Company”) (TSXV: PRG) is pleased to announce that it has signed a definitive earn-in agreement (the “Agreement”) with Barrick Gold Corporation (“Barrick”) (NYSE: GOLD) (TSX: ABX) whereby Barrick has the right to earn a 70% interest in the Company’s Pueblo Grande Project (the “Project”) located immediately adjacent to Barrick’s world-class Pueblo Viejo gold-silver mine in the Dominican Republic. To earn its interest, Barrick must incur a minimum US$10.0 million in exploration expenditures and deliver a qualifying Pre-feasibility Study prior to the sixth anniversary of the Agreement. In addition, Barrick has agreed to subscribe for the Canadian dollar equivalent of US$1.0 million of Precipitate’s common shares in a private placement.
