Apogee Minerals Announces Amendment to Option Agreement for the Pine Channel Property
14 Juli 2023 - 11:00PM
Apogee Minerals Ltd. (“
Apogee” or
the “
Company” or the “Optionee”) (TSXV: APMI) has
amended the option agreement (the “Agreement”) with Eagle Plains
Resources Ltd. (the “Optionor”) for the Pine Channel Property (or
the “Property”).
Under the amended terms of the Agreement, Apogee
has been granted an extension on the due date of the $50,000 cash
payment and the exploration expenditures on the Property of
$500,000 from June 30, 2023, to June 30, 2024. The remaining
exploration expenditure amounts over the course of the option will
remain the same.
In consideration of the amendment, Apogee shall
issue the Optionor 150,000 common shares within three (3) business
days of receipt of TSX Venture Exchange approval of this amendment.
All the other terms and conditions of the Agreement remain
unchanged. The shares issued shall be subject to a statutory hold
period of four months and one day from issuance.
About Apogee Minerals
Ltd.:
Apogee Minerals Ltd. is a mineral exploration
company. Our goal is to build shareholder value through mineral
project acquisitions and advancement, as well as new mineral
discoveries.
To find out more about Apogee Minerals Ltd.
(TSX-V: APMI) visit the Company’s website:
www.apogeemineralsltd.com
Apogee Minerals Ltd.
“Jim
Pettit”
James PettitCEO and Director
For further information, please contact:
Apogee Minerals Ltd. Riley Trimble,
DirectorEmail: rtrimble@sentinelmarket.com Tel: (604) 416-2978
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Cautionary Statements Regarding
Forward-Looking Information
This news release contains forward-looking
information within the meaning of Canadian securities laws. Such
information includes, without limitation, information regarding the
structure of the Proposed Transaction, the terms and conditions of
the Proposed Transaction, the Consolidation, the Name Change, the
terms of the Financing. the composition of the board of directors
and officers of the Resulting Issuer upon completion of the
Proposed Transaction, the intention of the parties to seek a
sponsorship exemption or waiver, the issuance of subsequent news
releases, and Alto Verde’s future exploration plans. Although the
Company believes that such information is reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward looking information is typically
identified by words such as: “believe”, “expect”, “anticipate”,
“intend”, “estimate”, “postulate” and similar expressions, or are
those, which, by their nature, refer to future events. The Company
cautions investors that any forward-looking information provided by
the Company is not a guarantee of future results or performance,
and that actual results may differ materially from those in forward
looking information as a result of various factors, including, but
not limited to: the Company’s ability to complete the Proposed
Transaction; the expected timing and terms of the Proposed
Transaction and the Financing; the state of the financial markets
for the Company’s securities; the state of the natural resources
sector in the event the Proposed Transaction is completed; recent
market volatility and potentially negative capital raising
conditions resulting from the continued COVID-19 pandemic and risks
relating to the extent and duration of such pandemic and its impact
on global markets; the Company’s ability to raise the necessary
capital or to be fully able to implement its business strategies;
and other risks and factors that the Company is unaware of at this
time.
The forward-looking statements contained in this
news release are made as of the date of this news release. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
The securities referred to in this news release
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements.
This news release does not constitute an offer
for sale of securities, nor a solicitation for offers to buy any
securities.
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