Carlyle Commodities Corp. Announces Amendment to Sunset Property Option Agreement and Enters into Consulting Agreement
Vancouver, July 30, 2021 - Carlyle Commodities Corp. (CSE: CCC) (FSE: 1OZA) (OTC: DLRYF) ("Carlyle" or the "Company") announces that it has entered into an amending agreement (the "Amending Agreement") to amend the terms of its option agreement dated November 7, 2018, as amended on May 9, 2018, May 25, 2018, June 25, 2018 and April 24, 2020 (collectively, the "Option Agreement"), whereby the Company has an option to earn a 100% interest in the Sunset mineral property, located in the Vancouver Mining Division, B.C. The Company has entered into the Amending Agreement to amend the terms of the Option Agreement, pursuant to which the Company has an option to earn a 100% interest in the Sunset mineral property, located in the Vancouver Mining Division, B.C. Under the terms of the Amending Agreement, the Company has extended the second and third scheduled payments of exploration expenditures respectively to December 31, 2021 (as to $200,000) and December 31, 2022 (as to $700,000). A copy of the Amending Agreement has been filed under Carlyle's profile on SEDAR.
Consulting Agreement
On July 5, 2021, the Company entered into a consultant agreement (the "Consulting Agreement") with an independent consultant (the "Consultant") pursuant to the Consultant agreed to provide the Company general corporate development activities ("Services") for an initial 6-month term (the "Term"). As consideration for the Services provided by the Consultant, Carlyle shall issue common shares (each, a "Share") to the Consultant at a price per Share equal to the lowest permitted price by the applicable policies of the Canadian Securities Exchange ("CSE") at the end of each month of the Term for the services rendered that month. Accordingly, the Shares are to be issued pursuant to the prospectus exemption provided under Section 2.24 of National Instrument 45-106 - Prospectus Exemptions.
About Carlyle
Carlyle is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The Company has an option to earn a 100% interest in the Cecilia Gold-Silver Project located in the State of Sonora, Mexico. Carlyle owns 100% of the Newton Gold Project in the Clinton Mining Division of B.C, as well has formed a strategic partnership with HDI (The Hunter Dickinson Group) and has formed a 50-50 joint venture with HDI affiliate United Mineral Services Ltd. on the Mack Project located in B.C. The Company also holds an option to earn a 100% interest in the promising Sunset property located in the Vancouver Mining Division near Pemberton, B.C. Carlyle is based in Vancouver, B.C., and is listed on the CSE under the symbol "CCC".
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Morgan Good"
Morgan Good
Chief Executive Officer
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@carlylecommodities.com
W: www.carlylecommodities.com
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.