Replies to post #78617 on Medinah Minerals (MDMN)

[BigBaboon]

Yeah... and what Auryn do you think we are partners with...???

The Auryn who signed the first deal in 2014...??? Or the Auryn that signed the second deal in 2016...???

(On Friday, June 27, 2014, Medinah Minerals, Inc. (Pink Sheets: MDMN) reports that its Chilean subsidiary, Medinah Mining Chile, signed a binding Framework Agreement with Peruvian JV partners in the city of Santiago, Chile with regard to the Altos de Lipangue group of claims in Chile. The Framework Agreement terms involve the sale of 85% of the Altos de Lipangue group of claims for a minimum price of US $100,000,000 in an all cash transaction upon the final exercise of the Option Purchase Agreement. Medinah Mining Chile will retain a 15% equity interest in the properties. This option purchase agreement was never approved by the BOD of Medinah.

Then on May 16, 2016 this sales agreement with Auryn was announced.

“Medinah Minerals, Inc. (“Medinah”) (NQB:MDMN) has entered into a Sales Agreement (“Agreement”) successfully completing the previously announced Memorandum of Understanding (MOU) with AURYN Mining Chile SpA (“AURYN”). AURYN has acquired 100% of Medinah's Altos de Lipangue claims in exchange for 25,000,000 (twenty five million) shares of AURYN, a 25% equity stake in AURYN. Medinah has received the 25,000,000 (twenty five million) AURYN shares called for in the Agreement. Furthermore, as part of the Agreement, Medinah has a 5-year option to acquire an additional 5% equity stake in AURYN’s capital structure for U.S. $50,000,000 (fifty million dollars). AURYN assumes all rights, responsibilities, costs and liabilities of the entire Altos de Lipangue Project. All previous Option Agreement contracts and addendums between the parties have been cancelled.