Golden Share Signs LOI to Sell Berens River Project
Toronto, Ontario--(Newsfile Corp. - September 2, 2020) - Golden Share Resources Corporation (TSXV: GSH) ("Golden Share" or the "Company") is pleased to announce that it has entered into a binding letter of intent ("LOI") with Midex Resources Ltd. ("Midex") to sell its whole interest in the Berens River Project ("Berens River" or the "Project") for a total consideration of CA$1,500,000 (the "Transaction") as outlined below.
- Tranche 1, cash consideration of CA$200,000, which was received.
- Tranche 2, cash consideration of CA$300,000 to be paid on or before December 1, 2020.
- Tranche 3, the issuance of 2 million Midex common shares at a price of CA$0.25 per share to be issued on the date of the first anniversary of the LOI.
- Tranche 4, the issuance of a further 2 million Midex common shares at a price of CA$0.25 per share to be issued on the date of the second anniversary of the LOI.
Berens River is located 200 km north of Red Lake, hosted in the Favourable Lake Greenstone Belt of northwestern Ontario. The Project includes the past producing Berens River Mine. For more information about Berens River, please refer to the Company's press release of March 19, 2019.
Golden Share and Midex will negotiate in good faith and use reasonable efforts to execute the Definitive Documents on or before September 15, 2020.
About Midex Resources Ltd.
Midex Resources Ltd. is a private Ontario junior natural resource company focused on northwestern Ontario. Midex owns 100% interest in 10,000 hectares surrounding the Berens River Mine project as well as 100% interest in 18,000 hectares in the Sturgeon Lake area. Midex is led by an experienced, successful junior mining team.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the Transaction. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
Neither 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.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63057