MONTRA�AL, QUEBEC – KHALKOS EXPLORATION INC. (“Khalkos”) (TSX VENTURE: KAS) Khalkos announces the signature of an agreement to acquire a 1% NSR royalty on the Jag (24 claims) of its Malartic property. The completion of this redemption is subject to approval by the TSX Venture Exchange.
To complete the redemption, Khalkos will make a cash payment to the owner (Les Mines JAG Ltd.) of $ 10,000 and issue 1,000,000 common shares. The common shares to be issued will be subject to a holding period of 4 months and 1 day. Following the redemption, the 24 claims of the JAG will remain subject to a NSR royalty of 1.5%.
By redeeming the 1% royalty on the JAG block and all existing royalties on the Malartic Lakeshore block (see press release dated March 23, 2017), Khalkos reduced or canceled royalties on 50 claims in an area where Mining has been present for more than 80 years. Khalkos controls more than 10 km of prime land in one of Canada’s most active mining camps.
This press release was prepared by Robert Gagnon, Geologist, Chairman of Khalkos, Qualified Person under National Instrument 43-101.
Source: Exploration Khalkos inc.