-- Eagle Plains Resources (EPL.V) on Tuesday said it received conditional approval from the TSX Venture Exchange to close the purchase and sale agreement with Trident Resources (ROCK.V) on seven individual non-core claim blocks in Saskatchewan totalling 4,711 hectare, a non-arm's-length deal.
The company said the projects are located in the La Ronge Gold Belt and are contiguous with Trident's extensive land holdings in the area. Under the terms, Trident will buy a 100% interest in the properties for a cash consideration of $5,000 with EPL retaining a 2% net smelter royalty on all of claims, one half of which may be purchased by Trident for $1 million.
Shares of Eagle Plains Resources were last seen up 2.3% at $0.22 on the TSX Venture Exchange.
Price: $0.22, Change: $+0.01, Percent Change: +2.33%