Chimata Gold Corp. (TSXV:CAT) entered into a binding letter of intent to acquire Troilus North mining property from Greg Explorations Inc. and its principals for CAD 0.25 million on September 27, 2017. The purchase price consists of an initial payment of CAD 0.03 million due upon signing of a definitive property acquisition agreement, CAD 0.03 million due within ninety days following signing of the agreement, CAD 0.05 million due on or before September 30, 2018, CAD 0.05 million due on or before March 31, 2019, CAD 0.05 million due on or before September 30, 2019 and CAD 0.05 million due on or before March 31, 2020. Chimata has granted a 1.5% Net Smelter Royalty to Greg Explorations, 0.5% of which can be repurchased by Chimata for CAD 0.5 million. As on October 12, 2017, Chimata Gold Corp. entered into a mining property acquisition agreement. The deal is subject to the satisfaction of certain conditions, including but not limited to the completion of a satisfactory due diligence of the property by Chimata, the conclusion of a definitive property acquisition agreement and regulatory approval. The transaction has been approved by TSX Venture Exchange on May 14, 2018. Chimata Gold Corp. (TSXV:CAT) completed the acquisition of Troilus North mining property from Greg Explorations Inc. and its principals on May 14, 2018.