Precipitate Gold Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Precipitate Gold Corp To Acquire BC Registered Company
Precipitate Gold Corp announced that it has entered into a Letter Agreement dated August 16, 2012 with the shareholders of a private BC registered company ("BC Corp") to purchase the company. Precipitate can earn a 100% interest in BC Corp by meeting the agreement terms which include cash payments totaling $450,000, issuance of an aggregate of 3 million common shares and the completion of $1.0 million in aggregate exploration expenditures. A $60,000 cash payment, as part of the total payments, is due upon execution of a formal agreement and with all other obligations due up to three years after the anniversary date of the final concession being fully granted by the Dominican Republic authorities. A 3% NSR is payable to the BC Corp shareholders, 1.5% of which can be purchased by Precipitate for $2.0 million.
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