Troymet Completes Sale of McClarty Claims
May 30 2018 - 6:19PM
Troymet Exploration Corp. (TSXV:TYE)
(“
Troymet”
) is
pleased to announce that, further to its May 3, 2018 news release,
it has completed the sale (the “
McClarty Sale”) to
an arm’s length private purchaser (the
“
Purchaser”) of all of its interest in: (i)
Troymet’s 40% interest in 5 mineral claims that are subject to a
Joint Venture Agreement among Hudson Bay Mining and Smelting Co.,
Limited and Troymet dated July 30, 2012; as well as (ii) Troymet’s
100% interest in 3 mineral claims (collectively, the
“
McClarty Claims”). The McClarty Claims consist of
property located in the McClarty Lake area of northern Manitoba.
The consideration for the McClarty Sale,
consisted of the following payments on the closing date: (i)
$100,000 cash paid by the Purchaser to Troymet; (ii) the issuance
to Troymet of an aggregate of 2,250,000 common shares of the
Purchaser; and (iii) the issuance by Troymet to the Purchaser of
2,500,000 common shares of Troymet (the “Troymet
Shares”) at a deemed price of $0.01 per Troymet Share. The
Troymet Shares issued in connection with the McClarty Sale are
subject to a hold period that expires on October 1, 2018.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.President, CEO &
Director
For further information,
contact:Investor Relations Tel: 250-729-0453Email:
info@troymet.com Website:
www.troymet.com Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release.
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