Makenita Resources Closes Acquisition Of The Sisson West Tungsten Project In New Brunswick And The NTX Rare Earth Project In Quebec
Jason Gigliotti, President of Makenita Resources Inc stated, "We are pleased to close on both of these exciting new projects. Rare earths have been thrust in the global spotlight in the past few months so the timing for this new acquisition is ideal. Also, Prime Minister Mark Carney has just made the "Sisson Tungsten Mine" a "Nation Building Project" and Makenita's new project directly borders this mine (figure 1). We anticipate being active on these claims in the short term and with only 33 million shares outstanding the structure is intact for immediate and future growth."

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Pursuant to the terms of the option agreement, the Company shall have the exclusive right and option to earn a 100% interest in the Properties from the Vendor in consideration for the issuance of a total of 3,000,000 common shares at a deemed price of $0.06 per share, the issuance of 1,500,000 transferrable warrants exercisable at a price of $0.08 per share for a period of three years from the issuance date, and by making cash payment in the amount of $30,000 as set out below:
To pay $30,000, issue 2,000,000 common shares in the capital of the Company, and issue 1,000,000 warrants to the Vendor within seven (7) business days of signing the option agreement; To issue 500,000 common shares in the capital of the Company and issue 500,000 to the Vendor within four (4) months of signing the option agreement; andTo issue 500,000 common shares in the capital of the Company to the Vendor within eight (8) months of signing the option agreement.
All shares and warrants issued will have a standard hold period of four months plus a day.
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