Stamper Oil & Gas Corp. (TSXV:STMP) has enter into a letter of intent to acquire NORTH AMERICAN STRATEGIC MINERALS INC. on September 23, 2022. Consideration will be 1) cash payment of $250,000; 2) issuance of a number of Stamper common shares to NASM shareholders on a pro-rata basis. The number of Stamper shares to be issued to NASM shareholders will be determined after completion of due diligence in a final agreement and will not exceed 50% of the outstanding common shares of Stamper upon closing of the Transaction; and 3) providing a $75,000 loan by Stamper to NASM within 7 business days from the date of the LOI. If the Transaction is completed, this loan will be counted towards the payment of $250,000. The LOI provides that upon completion of the Transaction, one director and one officer of Stamper will be appointed from the nominees of NASM.
all matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated September 12, 2022, were approved by the required ordinary or special majority of votes cast at the Company's Annual General Special Meeting (“AGSM”) held on October 18, 2022. A total of 1,750,759 common shares representing 34.31% of the issued and outstanding common shares of the Company were voted at the AGSM. All matters presented at the AGSM received the approval of 99% or more of the shares that voted at the AGSM. Completion of the Transaction is subject to a number of conditions, which include: 1) preparing and entering into a final agreement; 2) completing due diligence; 3) providing an NI 43- 101 compliant technical report(s) with respect to the material property(ies) of NASM; 4) providing audited annual financial statements and management discussion and analysis of NASM for at least the last two completed fiscal years and interim financial statements reviewed by auditor and management discussion and analysis of NASM for all completed interim periods; and 5) acceptance of the Transaction by the TSX Venture Exchange (the “TSXV”).All matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated September 12, 2022, were approved by the required ordinary or special majority of votes cast at the Company's Annual General Special Meeting (“AGSM”) held on October 18, 2022. A total of 1,750,759 common shares representing 34.31% of the issued and outstanding common shares of the Company were voted at the AGSM. All matters presented at the AGSM received the approval of 99% or more of the shares that voted at the AGSM. As of January 23, 2023 Stamper Oil & Gas Corp. announces that the Company is continuing in its due diligence of the transaction. None of the conditions have been fulfilled as of January 23, 2022.