Project One Announces Asset Purchase Agreement With Goldeneye Capital
VANCOUVER, BC, October 5, 2021 – Project One Resources Ltd. (CSE: PJO) (the “Company” or “Project One”) announces that, further to its news releases dated September 23, 2021 and August 16, 2021, the Company has entered into an asset purchase agreement with Goldeneye Capital Corp. (“Goldeneye”), dated October 5, 2021 (the “Definitive Agreement”), in respect of the acquisition of two gold mining properties located in Guyana, the Tassawini Property and the Harpy Property (collectively the “Properties”), from Goldeneye (the “Acquisition”).
Summary of Definitive Agreement and Acquisition
Pursuant to the Definitive Agreement, the Company will: (i) issue a total of 50,000,000 common shares in the capital of the Company (the “Consideration Shares”) to Goldeneye, at a deemed price of $0.25 per Consideration Share, (ii) make a one-time cash payment of US$500,000 to Goldeneye; and (iii) grant a 3% net smelter royalty over the Tassawini Property to Goldeneye. The Consideration Shares will be subject to escrow and hold periods as prescribed by the policies of the CSE and Canadian securities laws.
- Published: 05 October 2021
- Written by Editor