35% up today on the OTC, media intrest and company news is good.
Underlying Sully Property Agreement
If the Company satisfies the terms and properly exercises the Option (the terms of which are fully described in the Company’s news release dated September 30, 2016), and receives all of the issued and outstanding shares of Gravitas, Gravitas will become a wholly-owned subsidiary of the Company, and pursuant to the Underlying Sully Property Agreement, the Company will hold an eighty percent (80%) indirect, legal and beneficial interest in and to the Sully Property.
A two percent (2%) net smelter returns royalty will be held in favour of the Sully Vendors, half of which may be purchased back by Gravitas for $5,000,000. Pursuant to a right of first refusal purchase agreement dated August 9, 2016, the Sully Vendors also granted to Gravitas a right of first refusal to purchase the remaining, collective, twenty percent (20%) interest in the Sully Property, or, the individual, five percent (5%) interest of the Sully Property from the Sully Vendors after the exercise of the Sully Property Option.
Director Appointment & Resignations
The Company also announces the resignation of Jay Sujir and Hugh Rogers as directors of the Company. The Company thanks Mr. Sujir and Mr. Rogers for their services.
The Company is pleased to announce the appointment of Von Torres as a director of the Company. Mr. Torres serves as director to both private and public companies and provides experience in corporate management services. Most recently, Mr. Torres has worked with numerous public companies in a corporate
We also got Robert Tindall as new board Director - check out his CV, he has success with him. 2 former directors replaced by 2 new ones - the company is making constructive changes on various levels.
With finances and management in order, let`s hope for a strong season. Considering new share structure as another great plus, things feel a lot better then just a few month ago.
There plans for the drilling seems also be more focused, they have learned from earlier drillholes and now have a new updated computer model of the 2 deposits.
Underlying Sully Property Agreement
If the Company satisfies the terms and properly exercises the Option (the terms of which are fully described in the Company’s news release dated September 30, 2016), and receives all of the issued and outstanding shares of Gravitas, Gravitas will become a wholly-owned subsidiary of the Company, and pursuant to the Underlying Sully Property Agreement, the Company will hold an eighty percent (80%) indirect, legal and beneficial interest in and to the Sully Property.
A two percent (2%) net smelter returns royalty will be held in favour of the Sully Vendors, half of which may be purchased back by Gravitas for $5,000,000. Pursuant to a right of first refusal purchase agreement dated August 9, 2016, the Sully Vendors also granted to Gravitas a right of first refusal to purchase the remaining, collective, twenty percent (20%) interest in the Sully Property, or, the individual, five percent (5%) interest of the Sully Property from the Sully Vendors after the exercise of the Sully Property Option.
Director Appointment & Resignations
The Company also announces the resignation of Jay Sujir and Hugh Rogers as directors of the Company. The Company thanks Mr. Sujir and Mr. Rogers for their services.
The Company is pleased to announce the appointment of Von Torres as a director of the Company. Mr. Torres serves as director to both private and public companies and provides experience in corporate management services. Most recently, Mr. Torres has worked with numerous public companies in a corporate
We also got Robert Tindall as new board Director - check out his CV, he has success with him. 2 former directors replaced by 2 new ones - the company is making constructive changes on various levels.
With finances and management in order, let`s hope for a strong season. Considering new share structure as another great plus, things feel a lot better then just a few month ago.
There plans for the drilling seems also be more focused, they have learned from earlier drillholes and now have a new updated computer model of the 2 deposits.
Robert
