Origen Options Arlington Project to Equity Metals
Origen Resources has signed a letter agreement with Equity Metals regarding the Arlington Property in British Columbia's Boundary District. Under the agreement, Equity can acquire 100% interest by making cash payments of $130,000, incurring exploration expenditures of $250,000, and issuing shares valued at $400,000 total within the first anniversary of Regulatory Approval. Origen will retain a 2% net smelter royalty, of which Equity may purchase 1% for $1,000,000. The previous option agreement with Nickelex Resource has been terminated.
Origen Resources ha firmato una lettera di accordo con Equity Metals riguardante la proprietà Arlington nel distretto Boundary della Columbia Britannica. In base all'accordo, Equity può acquisire il 100% di partecipazione effettuando pagamenti in contante di $130.000, sostenendo spese di esplorazione di $250.000 e emettendo azioni per un valore totale di $400.000 entro il primo anniversario dell'approvazione normativa. Origen manterrà una royalty netta di fusione del 2%, di cui Equity potrà acquistare l'1% per $1.000.000. Il precedente accordo di opzione con Nickelex Resource è stato annullato.
Origen Resources ha firmado un acuerdo de carta con Equity Metals respecto a la Propiedad Arlington en el Distrito Boundary de Columbia Británica. Según el acuerdo, Equity puede adquirir el 100% de interés realizando pagos en efectivo de $130,000, incurriendo en gastos de exploración de $250,000 y emitiendo acciones valoradas en un total de $400,000 dentro del primer aniversario de la Aprobación Regulatoria. Origen retendrá una regalía neta de fundición del 2%, de la cual Equity puede comprar el 1% por $1,000,000. El acuerdo de opción anterior con Nickelex Resource ha sido cancelado.
오리젠 리소스는 지분 메탈스와 브리티시컬럼비아의 바운더리 지구에 있는 알링턴 부동산에 대한 편지 계약을 체결했습니다. 이 계약에 따라 지분 메탈스는 규제 승인 첫 해기념일 내에 $130,000의 현금 지급, $250,000의 탐사 비용 발생 및 총 $400,000의 주식 발행을 통해 100%의 지분을 인수할 수 있습니다. 오리젠은 2%의 순 제련 로열티를 유지하며, 지분 메탈스는 이를 $1,000,000에 1% 구매할 수 있습니다. Nickelex Resource와의 이전 옵션 계약은 종료되었습니다.
Origen Resources a signé un accord par lettre avec Equity Metals concernant la propriété Arlington dans le district de Boundary en Colombie-Britannique. En vertu de cet accord, Equity peut acquérir un intérêt de 100 % en effectuant des paiements en espèces de 130 000 $, en engageant des dépenses d'exploration de 250 000 $ et en émettant des actions d'une valeur totale de 400 000 $ dans l'année suivant l'approbation réglementaire. Origen conservera un droit de cu mélange net de 2 %, dont Equity peut acheter 1 % pour 1 000 000 $. L'accord d'option précédent avec Nickelex Resource a été résilié.
Origen Resources hat eine schriftliche Vereinbarung mit Equity Metals bezüglich der Arlington-Immobilie im Boundary District von British Columbia unterzeichnet. Gemäß der Vereinbarung kann Equity durch Barzahlungen in Höhe von 130.000 USD, die Durchführung von Explorationsausgaben in Höhe von 250.000 USD und die Emission von Aktien im Gesamtwert von 400.000 USD innerhalb des ersten Jahrestages der Genehmigung durch die Aufsichtsbehörde 100% Interesse erwerben. Origen behält eine 2% Nettoschmelzroyalty, von der Equity 1% für 1.000.000 USD erwerben kann. Die vorherige Optionsvereinbarung mit Nickelex Resource wurde gekündigt.
- Secured $130,000 in cash payments
- Guaranteed $250,000 in exploration expenditures
- Will receive shares valued at $400,000
- Retains 2% net smelter royalty
- Termination of previous option agreement with Nickelex Resource
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it signed a letter agreement ("Agreement") with Equity Metals Corporation (TSXV: EQTY) ("Equity") to earn a
The Arlington Agreement provides that Equity may earn a
Making cash payments totaling
$130,000 ($30,000 of which is reimbursement for the Bond posted in regards to the current drill permit to be assigned to Equity);Incurring exploration expenditures of
$250,000 ; andIssuing shares valued at
$200,000 within 7 days of Regulatory Approval; and issuing additional shares valued at$200,000 , or 2 million shares, whichever is greater, by the first anniversary of Regulatory Approval.
As a part of the agreement, Origen will also retain a
Termination of Option Agreement
Origen and Nickelex Resource Corporation (TSXV: NICK) mutually agreed to terminate the Arlington Property option agreement that was originally entered into on April 19th 2024.
Thomas Hawkins, P.Geo. (#39892), a Qualified Person as that term is defined in NI 43-101 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
On behalf of Origen,
Thomas Hawkins
Managing Director
For further information, please contact Gary Schellenberg, Chief Executive Officer, at 604-681-0221.
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 press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the exercise of the option to acquire a
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229719
FAQ
What are the terms of Origen Resources' Arlington Property agreement with Equity Metals?
What royalty does Origen retain in the Arlington Property deal?
What happened to Origen's previous Arlington Property agreement with Nickelex?
