Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the execution of an option agreement (the “Agreement”) with Hawkmoon Resources Corp. (“Hawkmoon”) to option 100% of its interests in its Wilson property located 15 km east of the Municipality of Lebel-sur-Quévillon.
During the five-year option period, Hawkmoon shall have the sole and exclusive right and option to earn a 100% interest (the “Option”) by paying Cartier an amount aggregating $1,000,000 in cash, issuing in favour of Cartier of an aggregate of 5,000,000 common shares of Hawkmoon, incurring not less than $6,000,000 in expenditures and performing a minimum of 24,000 metres of diamond drilling on the Wilson property. Upon execution of the Agreement, Cartier has received an amount of $200,000 in cash and 700,000 common shares of Hawkmoon. All shares issued to Cartier under the Agreement will be subject to a statutory four (4) month hold period.
Upon the exercise of the Option, Cartier will be granted a 2% NSR production royalty on the Wilson property, half of which (1% NSR) shall be redeemable for $4,000,000.
Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company’s plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.
For more information, please contact:
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.