Sabre Gold Mines Corp (SGLDF)

[goldenpolarbear]

"... Subsequent Events

Subsequent to the year ended June 30, 2020, the Company entered into an agreement to acquire a 3% Gross Production Royalty (“Royalty”) from TOMCL, which will reduce the aggregate Royalty on the Copperstone Gold Mine from 6% to 3%. The Copperstone Gold Mine is currently subject to an aggregate 6% Royalty held by TOMCL (4.5%) and the Angie Patch Survivor’s Trust (1.5%). The purchase agreement entered into between the Company’s subsidiary, Bonanza Explorations Inc. (“Bonanza”), and TOMCL provides for the buyback of a 3% Royalty held by TOMCL for US$2,500,000 on or before March 31, 2021 (the “Royalty Buyback”). The Royalty Buyback is conditional on the Company successfully arranging project financing for the re-start of production at the Copperstone Gold Mine.

Subsequent to the year ended June 30, 2020, the Company closed a bought deal financing for aggregate gross proceeds of $5,000,800. Pursuant to the Offering, the Company issued a total of 35,720,000 Units of the Company at a price of C$0.14 per Unit. Each Unit consists of one Common Share in the capital of the Company and one half of one Warrant. Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.22 for a period of 24 months. Haywood Securities Inc. acted as sole underwriter for the Offering.

https://www.investorx.ca/search?FreeSearch=Kerr+Mines+Inc.

Very kind of Fahad Al Tamimi to wait until Kerr Mines has the money prior to be paid back IMHO...

http://www.fahadaltamimi.com/

https://kerrmines.com/

Join the Kerr Mines Inc. Live Webinar
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$KER $KERMF #gold #arizona ... »

https://kerrmines.com/

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