Medinah Minerals (MDMN)

[myrtle222]

"The finalized Purchase Contract comprises an end price of $180 million USD dollars, for the purchase of an 85% ownership in the entire group of One Thousand Five Hundred Eight (1,508) minerals claims. The Altos de Lipangue owners retain a 15% “free-carried” interest in the properties and all production thereafter. Payments include an initial deposit followed by block remittances each 9 months over a 3-year period and a payout at the end of the 3rd year. Until payment is received in full, the purchasers do not earn any ownership interest in the properties. The purchasers may, at any time, complete the purchase of their 85% interest by way of making full payment of the $180 million, or remaining portion thereof.


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