Gold Vessel Resources (ASE) has entered into an agreement with St. Genevieve Resources (TSE) to buy the latter company’s interest in the Granada gold prospect near Rouyn, Que.
Gold Vessel can buy a 40% interest in the claims by paying St. Genevieve’s acquisition costs, which total $500,000. St. Genevieve will also retain a 10% non-participating interest in the property.
Financing for the deal will come from Alpha Securities, a Swiss- based firm. Alpha has agreed to subscribe for 813,008 class A shares of Gold Vessel at $1.23 per share. Alpha will also receive a similar amount of warrants which give the holder the right to buy a share for $1.60 during an 18-month period.
Be the first to comment on "Gold Vessel deal"