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Press Release - MINING.COM

Press Release - MINING.COM
mining.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining.com Daily Mail and Mail on Sunday newspapers.

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Castlebar Capital Corp. Provides Update Respecting Proposed Qualifying Transaction

Castlebar Capital Corp. Provides Update Respecting Proposed Qualifying Transaction
Castlebar Capital Corp.
(TSXV: CBAR.P) ("Castlebar" or the "Company") is pleased to provide an update on its previously announced proposed transaction respecting the Southern Spectrum mineral property (the "Property") in British Columbia (the "Transaction") (see Castlebar's press releases dated December 11, 2020 and January 22, 2021). Castlebar previously announced that it had entered into a sale, assignment, assumption and amending agreement dated January 22, 2021 (the "Definitive Agreement") with 1162832 B.C. Ltd. ("1162832") and Christopher R. Paul & Michael A. Blady (collectively, the "Optionor"), pursuant to which Castlebar will 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 Property.

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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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