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Graycliff Exploration Closes Mineral Claim Buy

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Graycliff Exploration (GRAY.CN) closed its acquisition with King Gold Mines Ltd. to buy a 100% legal and beneficial interest in 13 strategic mineral claims that abut the company's Shakespeare Gold project located in the Shakespeare Township within the Sudbury Mining District of Ontario, it said on Friday.

Graycliff paid $10,000 and issued 300,000 common shares of the company as full and final payment for the claims. It said that 150,000 of the purchaser shares have the normal regulatory four months and a day hold period and the remaining 150,000 of the purchaser shares will be held in escrow until Dec. 31, 2026.

Graycliff also received a total of $22,500 from the exercise of two common share purchase warrants that were originally issued in the company's April 2026 financing. The company issued 125,000 common shares, which will continue to have a regulatory hold until Aug. 8, it said.

Shares of the company were last seen unchanged at $0.415 on the Canadian Securities Exchange.

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