Mining Co. Buys Claims Expands Land Package
This claims acquisition is the latest in a string of similar purchases over the past 15 months by Puma Exploration Inc. (PUMA:TSX; PUXPF:OTC PINK) to increase the footprint of its land holdings in an emerging mining district.
To acquire the Southeast Moose Brook property, according to the agreement, Puma will pay CA$10,000 and issue 50,000 of its common shares to the seller on closing. Puma then will issue another 50,000 common shares on the first anniversary of the agreement signing and 100,000 on the second anniversary.
As for milestone payments, when a positive preliminary economic assessment has been completed, Puma will pay the seller CA$25,000 in cash. Another CA$50,000 is due when a positive feasibility study is done. The last performance-related payment is CA$100,000, due with the start of commercial production on the property.
The seller will retain a 2% net smelter returns royalty on any production.
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Puma Exploration Inc. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Puma Exploration Inc., a company mentioned in this article.