Huldra Silver Inc. (TSX VENTURE:HDA) has announced that, further to its news release of February 18, 2011, it has completed its acquisition of four district lots consisting of 70.7 hectares of land located at Treasure Mountain, British Columbia, pursuant to the terms of a Purchase and Sale Agreement dated February 17, 2011 with The Gak Holdings Inc.
Huldra currently holds the under surface mineral rights to these properties as part of its 7,000 acre Treasure Mountain Mine property. These surface rights give Huldra unencumbered access to areas of the property that have had limited exploration in recent years as well as an excellent location for mine and camp infrastructure.
In connection with the closing of the Transaction, the Company paid The Gak Holdings a total of $200,000 cash (consisting of a $20,000 deposit which was previously paid and a $180,000 cash payment made at closing) and issued The Gak Holdings 130,765 common shares of the Company (each, a "Share"), having a total value of $150,000, at a deemed price of $1.1471 per Share. The Shares are subject to a four month restricted period under applicable securities laws until June 25, 2011.
Source: Huldra Silver Inc.