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Clarity Gold Corp.
Summary
| Project: | Empirical | |
|---|---|---|
| Deposit: | Empirical | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/24/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-3-2020: Clarity Gold Corp. announces a Supporting Acquisition report for its Empirical deposit at the Empirical project. Summary of property in support of acquisition. Clarity Gold Corp. (formerly 1222991 B.C. Ltd.) (“Clarity Gold” or the “Issuer”) as | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rory Kutluoglu (Not stated) | |
| ABSTRACT: | Clarity Gold Corp. (formerly 1222991 B.C. Ltd.) (“Clarity Gold” or the “Issuer”) as purchaser, and Longford Capital Corp. (“Longford Capital” or the “Vendor”) are party to a purchase agreement dated October 1, 2019 pursuant to which Clarity Gold agreed to purchase and the Vendor agreed to sell a 100% interest in BC Mineral Tenures 1067784, 1067785, and 1067786 (the “Empirical Property Claims”) in consideration for 2,000,000 common shares in the capital of Clarity Gold Corp. (each, a “Share”) upon closing, performing $80,000 of expenditures on the project in the first year, performing $200,000 of expenditure in the second year and paying $50,000 in cash to the Vendor upon the Shares being approved for listing on a stock exchange. In addition, the Vendor shall be granted a 2% Net Smelter Royalty (“NSR”) on the Empirical Property Claims, and Clarity Gold retains the right to purchase 1% of the NSR for $1,500,000 cash. Included in the option agreement is a 1 km area-of-influence provision pursuant to which any claims staked by Clarity Gold within 1 km of the Optioned Property boundary (as defined by the Empirical Property Claims) will automatically be included in the agreement and subject to the Net Smelter Royalty. | |
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