Acquisition Terms
Pursuant to the terms outlined in the Agreement, Fremont will receive the following consideration:
600,000 common shares of Westward, with the following escrow provisions:
200,000 shares to be released on the four-month anniversary of closing
400,000 shares to be released on the eight-month anniversary of closing
A 2.0% net smelter return royalty on the Coyote claims (the 'Coyote NSR'). Half (1.0%) of the Coyote NSR may be repurchased by Westward at any time for a payment of
A 1.0% net smelter return royalty on the Rossi claims (the 'Rossi NSR'). Half (0.5%) of the Rossi NSR may be repurchased by Westward at any time for a payment of
The Agreement includes customary provisions, representations, covenants and conditions which are typical for a transaction of this nature. Closing is expected to occur prior to
Coyote & Rossi Claim Blocks
The Coyote and Rossi Claims are part of what the Company has traditionally called the
Fremont CEO,
Contact:
Corporate Information
President and CEO
Telephone: +351 9250 62196
WEB: www.fremontgold.net
Neither the
Forward-looking statements
Certain statements and information contained in this press release constitute 'forward-looking statements' within the meaning of applicable Canadian securities laws. Forward-looking statements in this news release relate to the completion of the Private Placement and the proposed use of proceeds of the private placement. Such forward-looking statements are based on several material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause the completion of the Private Placement or the actual use of proceeds to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
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