Metals Creek Resources Receives $20,000 Option Payment from Anaconda Mining for Tilt Cove Option
Toronto, Ontario, 8 May, 2020 - Metals Creek Resources Corp. (TSX-V:MEK) (OTC:MCREF) (Metals Creek or the “Company”) is pleased to announce that the company has received a $20,000 option payment for the Tilt Cove option from Anaconda Mining Inc. on the 6th May, 2020.
Under the revised terms of the Tilt Cove Agreement, to maintain the Option with respect to the Licenses in full force, ANX shall pay to MCR the following amounts:
- on the Effective Date (November 7, 2016) – $20,000 in cash by wire transfer and 50,000 Consideration Shares (see definition below); (Paid)
- on the first anniversary of the Effective Date – $40,000 in cash by wire transfer and 100,000 Consideration Shares; (Paid)
- on the second anniversary of the Effective Date – $60,000 in cash by wire transfer and 150,000 Consideration Shares; (Paid)
- On the third anniversary of the Effective Date - $20,000 in cash and 100,000 Consideration Shares; (Paid)
- On or before February 6, 2020 - $20,000 in cash; (Paid)
- On or before May 6, 2020 – $20,000 in cash; and (Paid)
- On or before August 6, 2020 – $20,000 in cash.
To further maintain the Option in full force with respect to the Licenses, Anaconda shall fund Expenditures with respect to the Licenses aggregating a minimum of $150,000 at any time or times during the Option Period.
All other terms of the agreement remain unchanged.
Read at:
www.metalscreek.com/may-8-2020
