Knick Exploration Inc. Buys Back Half of the Royalty Held On Its East-West Gold Property
13.01.2017 | The Newswire
Val d'Or, January 13, 2017 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce that it has entered into an agreement to buy back half of the existing royalty held on its East-West gold property.Pursuant to such agreement, Knick will pay to the royalty holder an amount of $50,000 and issue 5,000,000 common shares. Following the closing of the transaction, which is conditional to and upon the approval of the TSX Venture Exchange, there shall only remain a royalty of 1.75% NSR on the East-West gold Property. This remaining 1.75% royalty can be bought back by Knick at any time.
The acquisition of half the NSR royalty by Knick increases the East-West property's potential as a forward moving project and is deemed advantageous to the company's investors.
Knick's 100% owned East-West property is located in the Val d'Or-Malartic mining camp of Quebec, Canada. Its neighbours on strike to the east and west respectively are, Wesdome Gold Mines Ltd. (TSX: WDO) Kiena Mine and Osisko Mining Inc. (TSX: OSK) Marban Mine. The property is bound to the north by claims recently acquired by Agnico Eagle Mines Ltd. (TSX: AEM). Adjacent to the south of Knick's ground is the Malartic Goldfields Mine property recently acquired and held jointly by Agnico Eagle Mines Ltd. and Yamana Gold Inc. (TSX: YRI).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION, CONTACT:
Knick Exploration Inc.
Jacques Brunelle, President & CEO
Val-d'Or, Quebec
819-874-5252 819-874-5252
Knick Exploration Inc.
Gordon N. Henriksen, Vice President
Val-d'Or, Quebec
819-856-1387 819-210-1406