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 $90,000 worth of shares on December 21, 2025. Under the amended terms of the agreement the Company and Eastfield have agreed to amend and extend the schedule of future expenditures, payments and issuances as follows:
溫哥華，不列顛哥倫比亞省-（新聞資訊公司 - 2024年11月1日）- 硅金屬期貨公司（cse: SI）（"硅金屬"或"公司"）高興地宣佈，該公司已於2024年10月31日簽署了修訂協議，修改了與東田資源有限公司關於刺蝟項目期權協議。 刺蝟項目位於不列顛哥倫比亞省中部卡里布礦業區威爾斯鎮以北15公里處。 根據現有協議條款，爲保持期權的有效性，公司需要在2024年6月21日支出25,000美元，在2024年12月21日支付現金70,000美元併發行價值40,000美元的股份，並在2025年12月21日支出163萬美元，支付最終現金80,000美元併發行價值90,000美元的股份。根據協議修訂的條款，公司和東田已同意修改並延長未來支出、付款和發行的時間表如下：
| Payment Period |
Expenditures Amount |
Cash Payment |
Shares ($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 | $130,000 |
| 支付 Period |
支出 金額 |
現金 支付 |
股份 ($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.
關於硅金屬有限公司。
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).
硅金屬公司目前專注於在加拿大西部進行勘探，主要是在不列顛哥倫比亞省。該公司擁有Ptarmigan硅砂項目的100%不可分割的權利、所有權和利益，該項目位於不列顛哥倫比亞省Valemount約130公里處，目前擁有在不列顛哥倫比亞省中部Caribou礦業區Wells鎮以北約15公里處的Hedge Hog項目的勘探選擇權。管理層和董事會目前由Morgan Good(首席執行官和董事)、Leighton Bocking(董事)、Adrian Smith(董事和合格人員)和Bennett Liu(首席財務官)組成。
ON BEHALF OF THE BOARD OF DIRECTORS OF
董事會代表
SILICON METALS CORP.
硅金屬有限公司。
"Morgan Good"
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
Morgan Good
首席執行官和董事
For more information regarding this news release, please contact:
欲獲得更多此新聞稿的相關信息，請聯繫:
Morgan Good, CEO and Director
Morgan Good，CEO和董事
T: 604-715-4751
E: morgan@siliconmetalscorp.com OR ir@siliconmetalscorp.com
W:
電話: 604-715-4751
E: morgan@siliconmetalscorp.com 或 ir@siliconmetalscorp.com
網址：
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).
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