Rokmaster Resources Corp. said Jan. 23 that it completed its acquisition of a 100% interest in the Duncan Lake zinc-lead property in the Slocan Mining district in southeast British Columbia.
Pursuant to the Nov. 2 agreement, the company issued an aggregate 12 million common shares to the vendors of the property, subject to a four-month hold period that expires May 18.
Rokmaster also issued an aggregate of 12 million 10-year Series A special warrants and 12 million 15-year Series B special warrants, which are exercisable into 1 share upon reaching certain milestones.
In addition, the company issued 12 million 20-year Series C special warrants, exercisable into 1 share upon the start of commercial production at the property.
The vendors will also retain a 2.5% net smelter royalty on gold, silver, lead and zinc bearing ores produced from Duncan Lake.