EXPLORATION KHALKOS INC. announces the signing of two agreements to acquire 100% of two properties adjacent to the Malartic property. The acquisitions are conditional to the approval of the TSX Venture Exchange.
Khalkos has concluded a first agreement to acquire 100% of the Cadillac property. In return, Khalkos will issue 100,000 common shares and pay a sum of $5,000. The seller will retain a 1% NSR royalty, half of which may be redeemed for a consideration of $500,000. The Cadillac property is adjacent-west to the Malartic property and is constituted of two claims covering an area of 84 hectares in the Cadillac township. These two strategic claims are adjacent to those recently acquired from Globex Mining Enterprises Inc. (press release of April 25, 2017) and are located in the immediate extension of the Sediment zone.
Khalkos has also concluded a second agreement to acquire 100% of four claims in the Malartic township. In return, Khalkos will issue 100,000 common shares. The seller will retain a 1% NSR royalty, half of which may be redeemed for a consideration of $500,000. The four acquired claims are adjacent to the Malartic property (north-central) and they represent an additional 166 hectares.
There will be a hold period of four months and one day on the common shares issued. These acquisitions will allow Khalkos to consolidate its strategic position in the Malartic mining camp. After these acquisitions, Khalkos will hold 100% of 89 contiguous claims in one of the most active gold mining camps of Canada.
Robert Gagnon, President of Khalkos, states: ''In less than three years, Khalkos was able to establish itself as a major player in the world-class Malartic mining camp. The vision and the strategy put in place by Khalkos have brought together, under one property, 89 adjacent mining claims on one of the most favorable geological structures in Canada.''
This press release was prepared by Robert Gagnon, geologist, President of Khalkos, Qualified person pursuant to National Instrument 43-101.