Val-d'Or, Quebec / TheNewswire / December 7, 2018 - Knick Exploration Inc. (TSX-V: KNX) ("Knick Exploration" or "the Company") in order to proceed with business has entered into a sale agreement for 50% interest and a 1.75% net smelter royalty in the East-West gold property in the Val d'Or area of Quebec for a onetime payment of $100,000 Canadian.
The Purchaser will have the option to acquire an additional 5% by spending $200,000 Canadian on the property within 36 months of the agreement.
Knick has the right to buy back 25% interest in the property at anytime after the 50% acquisition by the Purchaser in the claims by completion of $250,000 Canadian of drilling exploration expenditures, payment of $100,000 Canadian and $200,000 Canadian cash or equivalent in shares or equivalent combination thereof.
Subject to regulatory approval.
Gordon N. Henriksen, P. Geo., Vice President of Knick Exploration, is the Company's qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
President & CEO
536, 3rd Avenue
Gordon N. Henriksen
536, 3rd Avenue