Pursuant to the terms of the Amending Agreement:
- the Company has issued 9,546,922 common shares of Abacus to Almadex
- the requirement, under the
June 4, 2024 Agreement to issue the Top-Up Shares to Almadex onJuly 31, 2025 , has been removed - the NSR has been increased from 2.0% from future production of minerals from the Willow Property under the
June 4, 2024 Agreement, to 2.5%, of which the Company can buy back 0.5% for$500,000 for a period of 2 years from the Closing date, which consideration may be paid, at the Company’s election, either in cash or, subject to prior Exchange approval at the time of election, equivalent shares in the capital of the Company.
“The revised Agreement has the effect of immediately fixing the number of shares to be issued to Almadex” commented
Work done to date by Abacus leads the company to believe that Willow contains a fifth porphyry within the
Lion Copper and Gold control the
The Company in addition to Willow has a lease on the Nev-Lorraine claims contiguous to Willow, giving it the right to explore and to elect to purchase these claims outright over a ten-year period.
Abacus also holds a 20% ownership interest in the Ajax copper-gold porphyry project, located near
* Data is from the respective Company websites.
**
The technical information in this news release has been reviewed and approved by
On Behalf of the Board,
President, CEO and Director
(604) 682 - 0301
About Abacus
Abacus is a mineral exploration and mine development company currently focused on copper and gold in B.C. and
Abacus also owns a 100% interest in the Willow copper-gold property located near
For the latest reports and information on Abacus’ projects, please refer to the Company’s website at www.amemining.com.
Forward-Looking Information
This release includes certain statements that are deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Abacus expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither
Source:
2024 GlobeNewswire, Inc., source