In addition, the Company may issue up to an additional 7,, common shares of the Company upon the achievement of certain milestones the ” Performance Shares “. The Payment Shares and Performance Shares, if any, will not be subject to any hold periods under applicable securities laws. The Finders’ Shares will be subject to a four month and one day hold period under applicable securities laws. There can be no guarantees that the Proposed Transaction will be completed as contemplated or at all. In connection with the Offering, the Company may pay finder’s fees on certain subscriptions in accordance with CSE policy. Completion of the Offering is subject to standard closing conditions, including the approval of the CSE. All securities issued pursuant to the Offering will be subject to a four-month plus one day hold period from the closing date. First Energy Metals Limited is a junior resource company engaged in the exploration and development of energy and precious metals such as nickel, cobalt, gold and silver within its property portfolio in North America.
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Stuhini is also reserving a 1. Brixton is an arm’s length party to the Company and no finder’s fees will be payable in connection with the transaction. For Stuhini, it allows us to both recoup our exploration expenses incurred thus far at the Metla Project and to participate in the continued development of the Metla Project and any upside in Brixton shares. This way Stuhini can concentrate on our more cost—efficient road-accessible exploration programs at our Ruby Creek and Que Projects.
For Brixton, this acquisition brings them closer to their objective of consolidating the entire trend, with their existing camp and airstrip at their nearby Thorn Project allowing them to advance the Metla Project in a much more cost-effective manner. This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward—looking statements concern the sale of the Metla property and the share and cash consideration and royalty to be received.
Such forward—looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, conditions in general economic and financial markets, receipt of any and all necessary regulatory, governmental and corporate approvals, and Brixton’s financial condition. The actual results could differ materially from those anticipated in these forward—looking statements as a result of risk factors, including the availability of funds and general market and industry conditions.
Forward—looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made.
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