Major General Resources Ltd -
Hawkeye property agreement with Major General
Major General Resources Ltd
MGJ
Shares issued 38,152,643
1999-08-31 close $0.19
Tuesday Aug 31 1999
See Hawkeye Gold International Inc (HGO) Acquisition
The Vancouver Stock Exchange has accepted for filing an agreement
dated June 4, 1999, between Hawkeye Gold International and Major
General Resources whereby Major General has granted Hawkeye an
option to acquire up to a 50-per-cent interest in the Yankee property on
Victoria Island, Nunavut. The initial 33-1/3-per-cent interest will be
earned upon Hawkeye paying $70,000 for staking costs, issuing
100,000 shares in two stages and incurring approximately $180,000 in
exploration. The claims are subject to a back-in right by the original
vendor after they have been staked, if exercised then Hawkeye's
interest will be reduced to 16-1/3-per-cent interest and Hawkeye's
exploration commitment will be reduced by one-half (i.e. $90,000). If the
underlying vendor does not exercise its back-in right, Hawkeye has the
option to increase its interest to 50 per cent by issuing an additional
50,000 shares and spending an additional $180,000 on exploration
over two years.
A finder's fee of 38,000 shares is payable to Vincent K. Campbell.
(c) Copyright 1999 Canjex Publishing Ltd.
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