VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Bearclaw Capital Corp. (TSX-V:BRL) (the “Company”) is pleased to announce that it has entered into an agreement with Chimata Gold Corp (TSX-V:CAT) dated October 12, 2017 (the “Purchase Agreement”) to sell a 100% interest in the Bam mineral property located in the Liard mining division of northwest British Columbia, Canada.
The Bam gold, silver and copper property is comprised of 1,052 hectares located approximately 80 Kilometers south of Telegraph Creek, British Columbia. Under the terms of the purchase agreement, Chimata Gold Corp. will pay $60,000 cash and issue six hundred thousand common shares to Bearclaw as follows; $15,000 cash and six hundred thousand common shares on closing of the agreement and the balance of the cash to be paid in three equal installments of $15,000 over a twelve month period. In addition, the Company will retain a 2% Net Smelter Royalty on the property, of which 1% may be purchased for $1,000,000 at any time.
On behalf of the Board
Scott M. Ross, President and Chief Executive Officer
Bearclaw Capital Corp.
Bearclaw Capital Corp.
214-3540 West 41st Avenue
Vancouver, British Columbia
V6N 3E6
Tel: 1-604-803-4883
Fax: 1-604-682-0318
Email: scott.ross@bearclawcapitalcorp.com
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