Chesbar gets land in Lac St. Jean

The vendor is owned by J. T. Flanagan and John McAdam, also directors of Chesbar. Chesbar can buy the property by paying Flanagan and McAdam’s private company $100,000 cash by Dec 31 and issuing 200,000 shares. The property will also be subject to a 2% net smelter royalty.

Prior to the deal, Blue Emerald Resources (VSE) acquired an option giving it the right to earn a 60% interest in the claims by spending $1.5 million on exploration over a 3-year period.

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