Damara Gold ( OTCPK:SLMZF ) said Wednesday it has received TSX Venture Exchange approval with respect to the proposed acquisition of a 100% undivided interest in the VanLab Property in Quebec.
As per the purchase agreement, Damara has issued to sellers 4 million units of the company, and granted the sellers an aggregate 2% net smelter return royalty.
Each unit is comprised of one common share in the capital of Damara and one non-transferable share purchase warrant.
Each warrant entitles the sellers to acquire one additional common share in the capital of Damara.
For further details see:
Damara Gold gets TSXV nod for VanLab property purchase in Quebec