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Cartier Resources (TSXV:ECR) to option Wilson Property to Hawkmoon Resources
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  • Cartier (ECR) has signed an agreement with Hawkmoon to option 100 per cent of the Wilson Property
  • The Wilson Property is located 15 km east of the municipality of Lebel-sur-Quévillon
  • Hawkmoon will pay C$1 million in cash, issue 5,000,000 of its common shares and meet expenditure and drilling limits in exchange for the option
  • Cartier will receive a 2 per cent NSR production royalty, half of which is redeemable for $4 million
  • Cartier Resources is an exploration company focused on the Abitibi Gold Belt in Quebec
  • Cartier Resources (ECR) is down by 6.45 per cent and is currently trading at $0.29 per share

Cartier (ECR) has signed an agreement with Hawkmoon to option 100 per cent of the Wilson Property.

The Wilson Property is located 15 km East of the municipality of Lebel-sur-Quévillon.

Hawkmoon shall have the sole and exclusive right and option to earn 100 per cent interest on the property by:

  • Paying Cartier C$1 million in cash
  • Issuing Cartier 5,000,000 Hawkmoon common shares
  • Incurring no less than $6 million in expenditures
  • Performing a minimum of 24,000 m of diamond drilling on the property

Upon execution of the agreement, Cartier received $200,000 in cash and 700,000 Hawkmoon common shares.

Upon the exercise of the option, Cartier will receive a 2 per cent NSR production royalty, half of which is redeemable for $4 million.

The option will last for five years.

Cartier Resources is an exploration company focused on the Abitibi Gold Belt in Quebec.

Cartier Resources (ECR) is down by 6.45 per cent and is currently trading at $0.29 per share as of 1:40 pm ET.

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