VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / St. Anthony Gold Corp. ("St. Anthony" or the "Company") (CSE:STAG)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce that it has closed the previously announced sale of all of its rights and title to the Panama Lake Property (the "Property") to Trillium Gold Mines Inc.("Trillium").
Trillium paid St. Anthony $500,000 in cash and issued 1,000,000 common shares in the capital of Trillium to the Company. In the event Trillium acquires a 100% interest in the Property, St. Anthony has a one-year option to cause Trillium to exercise its buy-back right to repurchase from Benton Resources one-half of the 2% net smelter royalty on the Property and convey such repurchased 1% net smelter royalty to St. Anthony in exchange for a cash payment by St. Anthony to Trillium of $1,000,000.
The common shares of Trillium Gold issued under the Purchase Agreement will be subject to a four-month holding period.
The Company also issued 3,000,000 bonus common units from treasury to management and consultants in respect to the closing of this transaction. Each unit consists of one common share and one common share warrant entitling the holder to one additional common share for $0.05 for a period of 2 years.
FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information about the Company is available on www.SEDAR.com under the Company's profile.
SOURCE: St. Anthony Gold Corp.