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Trillium Gold Signs Revised Definitive Agreement for the Acquisition of Eastern Vision Properties

Trillium Gold Mines Inc. has signed an updated Definitive Agreement to obtain the whole of Imagine Lithium Inc.’s Eastern Vision investment properties in the Confederation Lake assemblage inside the Birch-Uchi greenstone zone in Ontario’s Red Lake Mining District.

Trillium Gold Signs Revised Definitive Agreement f.or the Acquisition of Eastern Vision Properties
Map showing Trillium Gold’s current landholdings and the acquired Eastern Vision claims. Image Credit: Trillium Gold Mines Inc.

The asset now spans 13,958 hectares between the Fredart, Confederation North, and Confederation South properties, offering Trillium Gold authority over a considerable part of the Confederation Lake assemblage and generating a contiguous land package encompassing more than 100 km of beneficial frameworks on-trend with Kinross Gold’s Dixie Deposit and Evolution Mining’s Red Lake Operation.

The modified Definitive Agreement calls for the issue of 2,800,000 common shares of Trillium Gold and a $175,000 fund transfer to Imagine Lithium. Furthermore, the Company accepts Imagine Lithium’s existing option agreements’ cash payment requirements, while Imagine Lithium maintains its original share issuance obligations.

Trillium Gold will provide Pegasus Resources Inc. with $20,000 in cash and 100,000 common shares in the capital of Trillium Gold to acquire into certain option agreements that Trillium is taking as options from Imagine Lithium under the Definitive Agreement as part of the completion of the Definitive Agreement.

The cash consideration symbolizes the leftover option payments under the option agreements, while the equity consideration purchases Pegasus’ carried interest in the suitable properties, allowing Trillium Gold to receive 100% ownership of those properties upon the Definitive Agreement’s completion.

Trillium Gold must spend the majority of the $186,000 in option payments over roughly two years to earn into and exercise the additional option agreements that Trillium Gold is adopting as options under the Definitive Agreement.

Trillium Gold has also agreed to a Royalty Purchase Agreement under which it will, concurrently with the closing of the Definitive Agreement, purchase a 2.0% NSR royalty on the Fredart property from prospector Perry English in consideration for the issuance of 60,000 common shares in the capital of Trillium Gold and $50,000 in cash.

The TSXV must approve the Definitive Agreement and the transactions envisaged duly, such as the purchase of Pegasus’ carrying interest in assets encompassed by certain option agreements and the Royalty Purchase Agreement.

Source: https://www.trilliumgold.com/

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