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Castlebar Capital Corp. Announces Proposed Qualifying Transaction

Castlebar Capital Corp. Announces Proposed Qualifying Transaction
Castlebar Capital Corp.
(TSXV: CBAR.P) ("Castlebar" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") dated December 9, 2020 with 1162832 B.C. Ltd. (the "Assignor", a British Columbia corporation) respecting a proposed transaction (the "Transaction") pursuant to which Castlebar intends to assume all of 1162832's right, title and interest, as optionee, in and to a property option agreement (the "Option Agreement") dated January 10, 2019, as amended September 10, 2020, respecting the Southern Spectrum mineral property (the "Property") in British Columbia. Under the LOI, Castlebar and the Assignor have agreed to act in good faith to draft, negotiate and execute a definitive agreement (the "Definitive Agreement") respecting the Transaction, which will supersede the LOI.

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