Sassy Completes Nicobat Option Agreement : vimarsana.com

Sassy Completes Nicobat Option Agreement


Sassy Completes Nicobat Option Agreement
ACCESSWIRE
VANCOUVER, BC / ACCESSWIRE / May 31, 2021 /
Sassy Resources Corporation ('Sassy' or the
'Company')
(CSE:SASY)(OTCQB:SSYRF)(FSE:4E7)
is pleased to announce that it has completed the definitive agreement (the 'Agreement') to option its Nicobat Property in Northwest Ontario to privately held MAX Power Mining Corporation (MAX Power). The deal makes Sassy the largest shareholder in this new battery metals-focused company which has completed an initial financing and has prepared listing submissions for a Canadian exchange.
Under the Agreement, MAX Power can earn a 100% interest in Nicobat by incurring $1 million in exploration expenditures on the property over a 4-year period while also issuing five (5) million shares in the company to Sassy upon obtaining a listing on a Canadian exchange with the Nicobat as a qualifying property. Those shares will be released to Sassy in stages over a three-year period while Sassy will also be granted one million warrants, exercisable at 25 cents, to purchase an additional one million shares in MAX Power within 36 months. Sassy will retain a 1% NSR on the property which may be purchased by MAX Power at any time for $1,000,000. In addition, Sassy will have the right to appoint one director to the MAX Power board after the date of listing.

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