Culmination of Brady Property Acquisition
Rocky Shore Gold Ltd. (CSE: RSG) proudly announces the successful completion of the acquisition of the Brady Property through its wholly-owned subsidiary. This milestone complements the strategic vision of Rocky Shore to expand its portfolio and explore new opportunities.
The Company commenced this journey with a cash payment of $75,000 and by issuing 1,000,000 common shares to the vendor. Notably, the vendor will maintain a 0.5% net smelter return (NSR) which can be repurchased at any time for $250,000 in cash. Furthermore, a 2% NSR is also attached to the property, which Rocky Shore can buy back for $1,000,000, allowing the Company to maintain flexibility in its operations.
Huxter Lane Option Agreement Details
In addition to the Brady acquisition, Rocky Shore has also made significant progress under the Huxter Lane Option Agreement. The initial payment made by the Company encompassed $100,000 and involved issuing a total of 2,000,000 common shares to the optionors, solidifying its commitment to future exploration endeavors.
It’s important for shareholders to note that all shares issued under these agreements are subject to a holding period of four months plus a day, with an expiration date set for April 13, 2026.
Incentives for Officers and Key Personnel
Rocky Shore understands the importance of incentivizing its team, which is why the Company granted 5,100,000 incentive stock options. These options, part of the Company's omnibus equity incentive plan, are designed to reward officers, directors, and consultants for their commitments. Each option gives the holder the right to acquire one common share at a price of $0.20, with a five-year term expiring on December 12, 2030.
Half of these options will vest immediately, offering immediate value to the recipients, while the remaining half will vest on December 12, 2026. All options will likewise be restricted by a four-month hold period post-issuance.
About Rocky Shore Gold Ltd.
At the core of Rocky Shore’s mission is a focused exploration strategy aimed at expanding its gold deposits and discovering new major gold zones. The Gold Anchor Project, under its full ownership, holds immense potential within one of Canada’s most promising and underexplored gold districts in central Newfoundland.
Spanning over 1,200 square kilometers, the project features two large porphyry-controlled gold deposits, supplemented by additional promising high-grade structurally controlled gold targets. The landscape is rich with potential, as numerous targets are already identified, particularly along the influential Appleton and JBP Faults.
Furthermore, the Company expresses appreciation for the support received from the Junior Exploration Assistance Program facilitated by the Department of Natural Resources in Newfoundland and Labrador, which contributes significantly to its exploration and operational activities.
Contact Information
For those looking to learn more or speak directly with Rocky Shore representatives, the primary contact is:
Ken Lapierre, President & CEO
Rocky Shore Gold Ltd.
T: +1 (647) 678-3879
Cathy Hume, CEO
CHF Capital Markets
T: +1 (416) 868-1079 x 251
Frequently Asked Questions
What is the significance of acquiring the Brady Property?
The acquisition of the Brady Property marks a strategic expansion for Rocky Shore, enhancing its gold portfolio and exploration capabilities.
What are the terms of the stock options granted by Rocky Shore?
Rocky Shore granted 5,100,000 stock options, with each allowing purchase of a share at $0.20 and a vesting schedule spread over five years.
Where is the Gold Anchor Project located?
The Gold Anchor Project is situated in central Newfoundland, recognized as one of Canada's most underexplored gold regions.
How does the Company plan to utilize the new properties?
Rocky Shore aims to conduct extensive exploration to increase its gold deposits and pursue discovery of major gold zones within the properties.
Who should potential investors contact for more information?
Interested investors or parties may reach out to Ken Lapierre or Cathy Hume at the provided contact details for further inquiries.