Silicon Metals Corp. Announces Amendment to Hedge Hog Option Agreement
Silicon Metals Corp. Announces Amendment to Hedge Hog Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2024) - SILICON METALS CORP. (CSE: SI) ("Silicon Metals" or the "Company") is pleased to announce the Company has entered into an amendment agreement on October 31, 2024, amending the Hedge Hog Property Option Agreement with Eastfield Resources Ltd. The Hedge Hog Project is located 15km north of the town of Wells in the Caribou Mining Division of central British Columbia. Under the existing terms of the agreement, to maintain the option in good standing, the Company was required to incur expenditures of $25,000 on June 21, 2024, make a cash payment of $70,000 and issue $40,000 worth of shares on December 21, 2024, and incur expenditures of $1.63 million, make a final cash payment of $80,000 and issue $90,000 worth of shares on December 21, 2025. Under the amended terms of the agreement the Company and Eastfield have agreed to amend and extend the schedule of future expenditures, payments and issuances as follows:
温哥华，不列颠哥伦比亚省-（新闻资讯公司 - 2024年11月1日）- 硅金属期货公司（cse: SI）（"硅金属"或"公司"）高兴地宣布，该公司已于2024年10月31日签署了修订协议，修改了与东田资源有限公司关于刺猬项目期权协议。 刺猬项目位于不列颠哥伦比亚省中部卡里布矿业区威尔斯镇以北15公里处。 根据现有协议条款，为保持期权的有效性，公司需要在2024年6月21日支出25,000美元，在2024年12月21日支付现金70,000美元并发行价值40,000美元的股份，并在2025年12月21日支出163万美元，支付最终现金80,000美元并发行价值90,000美元的股份。根据协议修订的条款，公司和东田已同意修改并延长未来支出、付款和发行的时间表如下：
| Payment Period |
Expenditures Amount |
Cash Payment |
Shares ($Eq) |
| On or before Oct 31, 2024 | - | $10,000 (Paid) |
- |
| On or before March 31, 2025 | $25,000 | - | - |
| On or before June 30, 2025 | - | $60,000 | $40,000 |
| On or before June 30, 2026 | $1,630,000 | $80,000 | $90,000 |
| $1,655,000 | $150,000 | $130,000 |
| 支付 时期 |
支出 数量 |
现金 适用于拖欠余额的合格住宅客户的分期付款安排长达12个月。先支付欠款金额的定金，然后通过分期支付剩余金额，加上常规月度账单。 |
假设本说明书所涵盖的所有普通股均已出售完成，在2023年11月29日发行和流通的普通股数量的基础之上，假设所有股票均购买，假定销售股东将拥有的所有已发行普通股的百分比 ($Eq) |
| On or before Oct 31, 2024 | - | $10,000 (Paid) |
- |
| On or before March 31, 2025 | 25000美元 | - | - |
| 2025年6月30日或之前 | - | $60,000 | $40,000 |
| 在2026年6月30日或之前 | $1,630,000 | Percent of | $90,000 |
| $1,655,000 | $150,000 | $130,000 |
About Silicon Metals Corp.
关于硅金属有限公司。
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Valemount, British Columbia, and currently has an Option to explore the Hedge Hog Project located 15km north of the town of Wells in the Caribou Mining Division of central British Columbia. Management and the board of directors currently consists of Morgan Good (Chief Executive Officer and Director), Leighton Bocking (Director), Adrian Smith (director and Qualified Person) and Bennett Liu (Chief Financial Officer).
硅金属公司目前专注于在加拿大西部进行勘探，主要是在不列颠哥伦比亚省。该公司拥有Ptarmigan硅砂项目的100%不可分割的权利、所有权和利益，该项目位于不列颠哥伦比亚省Valemount约130公里处，目前拥有在不列颠哥伦比亚省中部Caribou矿业区Wells镇以北约15公里处的Hedge Hog项目的勘探选择权。管理层和董事会目前由Morgan Good(首席执行官和董事)、Leighton Bocking(董事)、Adrian Smith(董事和合格人员)和Bennett Liu(首席财务官)组成。
ON BEHALF OF THE BOARD OF DIRECTORS OF
董事会代表
SILICON METALS CORP.
硅金属有限公司。
"Morgan Good"
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
Morgan Good
首席执行官和董事
For more information regarding this news release, please contact:
欲获得更多此新闻稿的相关信息，请联系:
Morgan Good, CEO and Director
Morgan Good，CEO和董事
T: 604-715-4751
E: morgan@siliconmetalscorp.com OR ir@siliconmetalscorp.com
W:
电话: 604-715-4751
E: morgan@siliconmetalscorp.com 或 ir@siliconmetalscorp.com
网址：
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
该新闻稿中包含的所有声明和信息可能构成适用加拿大证券法的前瞻性信息。前瞻性陈述涉及未来事件或未来业绩，反映出公司管理层对未来事件的期望或信仰。一般而言，前瞻性陈述和信息可以通过使用“计划”或“预计”等前瞻性术语，或对部分行动、事件或结果的“可能性”、“可能”、“应当”、“将要”或“发生”的表述等进行识别。本信息和这些陈述，以下简称“前瞻性陈述”，并非历史事实，是根据本新闻稿发布日期生成的，包括但不限于有关第二期的收益使用的陈述。
