Canadian Silver Hunter sells Lost Dog property near Timmins

Canadian Silver Hunter Inc. has entered into an agreement with 15083974 Canada Inc. for the sale by CSH of a group of 45 mining claims totaling approximately 1300 hectares, located in Denton Township, West Timmins, known as the "Lost Dog" property.

In consideration for the transfer of a 100% registered and beneficial interest in the Property from CSH to CAN, CAN will make a cash payment to CSH of $165,000. CSH will retain a 1% royalty on net smelter returns payable from future commercial production from the Property. Additionally, CAN will grant to Timothy Towers a 2% royalty on net smelter returns payable from future commercial production from the Property.

The Agreement remains subject to CSH exercising in full its option to acquire the Property pursuant to the option agreement with Timothy Towers dated October 23, 2020, as amended, by making a cash payment of $40,000 and issuing 500,000 shares to Timothy Towers, subject to the approval of the TSX Venture Exchange. 

About Canadian Silver Hunter, Inc.

Canadian Silver Hunter Inc. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold, silver, cobalt, nickel and copper properties in Ontario and Quebec. 

 

Tags: Northern Ontario / Deals & Financial / Silver / All Articles