Huntsman Exercises Baxter Spring Option

Rhea-AI Summary

Huntsman Exploration Inc. (OTC PINK: BBBMF) has successfully exercised its option to acquire 100% of the Baxter Spring property in Nevada. Following previous announcements from August and November 2020, the company has confirmed that a payment of US$250,000 originally due on December 1, 2021, has been extended to May 31, 2022. Further details on upcoming exploration programs will be communicated in due course.

Positive

• Huntsman has acquired 100% ownership of the Baxter Spring property.

Negative

• Payment deadline for the Baxter Spring agreement has been extended, indicating potential cash flow challenges.

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Huntsman Exploration Inc. (TSXV:HMAN)(OTC PINK:BBBMF) (the "Company" or "Huntsman") announces that further to its news releases of August 28, 2020 and November 12, 2020, it has exercised its option to earn 100% of the Baxter Spring property, Nevada. The Company also advises that the payment of US$250,000 due on December 1, 2021 under the Baxter Spring agreement, is now due to be paid on or before May 31, 2022.

Further updates regarding exploration programs on the Company's properties will be made available in due course.

On Behalf of the Board of Huntsman Exploration Inc.
Scott Patrizi
President and Chief Executive Officer

For more information, please contact 1-855-584-0160 or info@huntsmanx.com.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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 release.

SOURCE: Huntsman Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/665535/Huntsman-Exercises-Baxter-Spring-Option

FAQ

What recent decision did Huntsman Exploration make regarding the Baxter Spring property?

Huntsman Exploration has exercised its option to earn 100% of the Baxter Spring property.

What is the new payment deadline for Huntsman Exploration's Baxter Spring agreement?

The payment of US$250,000 due under the Baxter Spring agreement is now due by May 31, 2022.

How does the recent press release affect Huntsman Exploration's stock symbol BBBMF?

The press release signifies strategic progress for Huntsman, which may influence investor perception and stock performance.

When will Huntsman Exploration provide updates on exploration programs?

Further updates regarding exploration programs on the Company's properties will be made available in due course.