MONTREAL, QUEBEC–(Marketwired – May 3, 2017) – KHALKOS EXPLORATION INC. (“Khalkos”) (TSX VENTURE:KAS) announces the signing of an agreement to buy back a 1% NSR royalty on the JAG block (24 claims) of its Malartic property. The conclusion of this buyback is subject to the approval of the TSX Venture Exchange.
To complete the buyback, Khalkos needs to make a cash payment of $ 10,000 and issue 1,000,000 common shares to the owner (J.A.G Mines Ltd.). There will be a hold period of four months and one day on the common shares issued. Following the buyback, the 24 claims of the JAG block will be subject to a royalty of 1.5% NSR.
By buying back the 1% NSR royalty from the JAG block as well as the existing royalties on the Malartic Lakeshore block (press release of March 23, 2017), Khalkos has diminished or eliminated royalties on 50 claims in an area where mining activity 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, President of Khalkos, Qualified person pursuant to National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robert Gagnon, P.Geo
President
(819) 825-2303
(514) 510-7964 (FAX)
[email protected]
Khalkos Exploration Inc.
Christian Guilbaud, B.A.A
Corporate Development
(514) 813-7862
(514) 510-7964 (FAX)
[email protected]
www.khalkos.com
