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SXR SGX Resources agreement for Ontario claims

Aug 27, 2012

Monday August 27 2012 - Property Agreement


The TSX Venture Exchange has accepted for filing for filing a property option agreement dated Aug. 21, 2012, between SGX Resources Inc. and Shoreacres Explorations Ltd. (Brien Sirola), 2090720 Ontario Ltd. (J. Kevin Filo) and 2229667 (J. Kevin Filo) whereby the company has been granted an option to acquire a 100-per-cent interest in eight claims located in Grenfell township, Larder Lake mining district, Ontario. Consideration is $175,000 cash and 700,000 shares payable over four years. The property is subject to a 1-per-cent net smelter returns royalty payable to the vendors and an underlying 2-per-cent NSR payable to the original vendor. One-half (1 per cent) of the underlying 2-per-cent NSR may be purchased by the company for $1-million.