StrikePoint Signs Definitive Agreement to Sell Glacier Creek Property to American Creek
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2020) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") announces that the company has signed a definitive agreement dated January 16, 2020, with American Creek Resources (TSXV: AMK) with respect to the acquisition by American Creek of 100 per cent of StrikePoint's Glacier Creek property. The property is located approximately 8km northeast of the town of Stewart in British Columbia's, Golden Triangle. The terms of the transaction set out in the definitive agreement include:
- American Creek will acquire 100 per cent of the property;
- American Creek will issue three million common shares to StrikePoint;
- American Creek will make a cash payment to StrikePoint of $50,000;
- StrikePoint will retain a .5 per cent net smelter return royalty, which can be purchased for an additional cash payment of $500,000.
StrikePoint CEO Shawn Khunkhun commented: "With back to back property divestments, StrikePoint is demonstrating an ability to create a portfolio of shares in active junior mining companies. With over 20 gold and silver properties still under 100% ownership, it's our goal to continue on a path of M&A activity. We are giving our shareholders exposure to multiple companies and assets through this strategy. We will continue to focus our exploration on our flag ship projects Porter and Willoughby, while having other partners develop our non-core assets. With specific regard to the American Creek transaction, we are very excited to give our shareholders exposure not only to Glacier Creek and the Dunwell Property, but also the Treaty Creek Property. Treaty Creek is one of the most exciting new discoveries in the Golden Triangle that is 60% owned by Tudor Gold, 20% carried interest by both Teuton Resources and American Creek."
StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC's Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
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.
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