Prosper Gold Signs Letter of Intent to Option Star Project
Provided By Globe Newswire
Last update: Apr 20, 2022
VANCOUVER, British Columbia, April 20, 2022 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (“Prosper” or the “Company”) (TSXV:PGX) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) dated April 20th, 2022 with CAVU Mining Corp. (“CAVU”) (CNSX: CAVU), a company incorporated under the laws of British Columbia, to grant CAVU the right to earn and acquire Prosper’s 51% interest (the “Option”) in the Star Project located in the province of British Columbia (the “Proposed Transaction”). Under the terms of the LOI, CAVU may exercise the Option by: (i) issuing 1,250,000 common shares in the capital of CAVU to Prosper within seven days after execution of the Definitive Agreement (defined below) (the “Effective Date); and (ii) making cash payments to Prosper in the following amounts:
