TomaGold Corporation (TSXV: LOT | OTCQB: TOGOF) has extended the option to purchase with Chibougamau Independent Mines Inc. (TSXV: CBG) by 45 days to allow the completion of due diligence, and to secure financing to acquire Chibougamau’s East Block copper-gold properties.
Last September, TomaGold met all its initial commitments regarding the previously announced acquisition of 20 mining properties, forming the major portion of the Chibougamau Mining Camp, in Quebec, Canada.
At this time, the corporation paid its initial commitments to SOQUEM Inc., Chibougamau, and Globex Mining Enterprises Inc. (TSX: GMX) to acquire a total of 13 mining properties by making cash payments totalling C$340,000 and issuing 7,125,000 common shares of Toma Gold as per the agreements.
Furthermore, the corporation has paid CIM an additional cash amount of C$200,000 for the six month exclusivity right to acquire the seven remaining properties, which will allow it to finalize its due diligence on those properties.
In addition to the recent agreements to acquire the 20 properties in the camp, the TomaGold holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur, and Doda Lake.
To find out more, please visit www.tomagold.com
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