NetworkNewsBreaks – Zinc One Resources Inc. (TSX
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Posted On: 11/28/2017 6:18:31 PM
NetworkNewsBreaks – Zinc One Resources Inc. (TSXV: Z) (OTC: ZZZOF) (FSE: RH33) Reports Update on Acquisition Agreement with Nubian Resources
Zinc One Resources Inc. (TSXV: Z) (OTC: ZZZOF) (FSE: RH33) announced this morning that Nubian Resources Ltd. (TSXV: NBR) finished its due diligence to purchase the Esquilache silver-lead-zinc project from Zinc One. Under the terms of the letter of intent announced in September, the entry into the definitive purchase agreement was to take place on November 24th, however, due to the additional time needed to complete the due diligence process, the companies have agreed to extend the entry into the definitive purchase agreement to December 22, 2017. Notably, $25,000 has been advanced to Zinc One, which reduces the cash amount owing on closing from $125,000 to $100,000, which will be in addition to common shares and annual advanced Net Smelter Royalty (NSR) payments specified by the letter of intent. Jim Walchuck, President and CEO of Zinc One, stated, “Zinc One is very pleased to complete this agreement that secures some financing for the Company allowing us to focus on our Bongará and Charlotte Bongará Peru projects which are of higher priority for us.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Zinc One Resources Inc. (TSXV: Z) (OTC: ZZZOF) (FSE: RH33) announced this morning that Nubian Resources Ltd. (TSXV: NBR) finished its due diligence to purchase the Esquilache silver-lead-zinc project from Zinc One. Under the terms of the letter of intent announced in September, the entry into the definitive purchase agreement was to take place on November 24th, however, due to the additional time needed to complete the due diligence process, the companies have agreed to extend the entry into the definitive purchase agreement to December 22, 2017. Notably, $25,000 has been advanced to Zinc One, which reduces the cash amount owing on closing from $125,000 to $100,000, which will be in addition to common shares and annual advanced Net Smelter Royalty (NSR) payments specified by the letter of intent. Jim Walchuck, President and CEO of Zinc One, stated, “Zinc One is very pleased to complete this agreement that secures some financing for the Company allowing us to focus on our Bongará and Charlotte Bongará Peru projects which are of higher priority for us.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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