Source: Quaterra Resources
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  • Bullet Exploration Inc. (AMMO) has entered into a definitive agreement with Independence Gold Corp. to acquire the Anita Property
  • The Anita Property consists of seven mineral tenures totalling approximately 2,900 hectares
  • Bullet Exploration shall acquire a 100% interest in the Anita Property for a cash payment of $30,000 and the issuance of 300,000 common shares
  • Bullet Exploration is a Canada-based mineral exploration company focused on Copper prospects in North America
  • Bullet Exploration Inc. (AMMO) is unchanged, trading at C$0.16 per share at 3:45 pm ET

Bullet Exploration Inc. (AMMO) has entered into an arm’s length definitive agreement with Independence Gold Corp. to acquire the Anita Property.

The property is located on Highway 5A, 30 kilometres north of Princeton and 45 kilometres south of Merritt in British Columbia.

The Anita Property consists of seven mineral tenures totalling approximately 2,900 hectares and covers three historical mineral showings, the Al, the Cindy and the Anita. The property is contiguous with the AXE property, which was just purchased by Kodiak Copper

Under the terms of the proposed transaction, Bullet Exploration shall acquire a 100% interest in the Anita Property for a cash payment of $30,000 and the issuance of 300,000 common shares.

A 2% net smelter royalty shall be granted to the vendor, of which 1% can be repurchased by Bullet at any time in consideration for a cash payment of $250,000.

A finder’s fee equal to 7% of the purchase price is payable to be satisfied on the closing date by either a cash payment and/or the issuance of common shares or a combination of both at a deemed price of $0.15 per share. The transaction remains subject to the approval of the TSX Venture Exchange.

Bullet Exploration is a Canada-based mineral exploration company focused on Copper prospects in North America.

Bullet Exploration Inc. (AMMO) is unchanged, trading at C$0.16 per share at 3:45 pm ET.

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