Canadian company Harfang Exploration has exercised its option to acquire 100% interest in the Egan gold mine in Ontario.
This is accomplished through a combination of cash and stock payments to the property seller.
Under the option agreement and subsequent amendments made in August 2020 and August 2022, Harfang has the right to acquire the entire interest in the property.
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The agreement with the seller includes dividing the final cash payment of C$170,000 (US$126,293) into two installments of C$85,000 each.
The seller has now agreed to accept a final payment consisting of C$27,554 in cash and 510,670 shares of Harfang common stock.
Harfang will acquire 100% interest in Egan’s assets upon receipt of required approvals through a cash and stock offering.
