| October 14, 2015 SALE OF COMPANY'S INTEREST IN THE AQUILON PROPERTY, JAMES BAY, QUEBEC | |
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0b0cebe7-d903-4041-a3b5-78f855281a62.pdf
GOLDEN TAG RESOURCES LTD.
Suite 16, 3608 Boul St Charles, Kirkland, QC H9W 1R9
T : 514.426.8542; F : 514.426.8543; E: [email protected] DRAFT TSX VENTURE EXCHANGE: 'GOG'
-NEWS RELEASE-
SALE OF COMPANY'S INTEREST IN THE AQUILON PROPERTY, JAMES BAY, QUEBEC
October 15, 2015 Montreal, Quebec Golden Tag Resources Ltd. (the 'Company') (TSX-V: GOG) announces that it has signed an option agreement to sell its 50% interest in the Quebec Aquilon property located in James Bay Quebec to an arms-length private company. The agreed price is $1 million plus any applicable transfer costs or taxes. An initial non-refundable payment of Thirty-Seven Thousand, Five Hundred Dollars ($37,500) has been made. The remaining option payments must be made in increments of: Twenty Two Thousand Five Hundred Dollars ($22,500) payable on November 1, 2015; Forty Thousand Dollars ($40,000) payable on January 15, 2016; and a final payment of Nine Hundred Thousand Dollars ($900,000) to be paid no later than June 1, 2016. The final payment can be made at the sole discretion of the Company in cash or in form of a cash payment of Four Hundred Thousand Dollars ($400,000) and the remaining amount of Five Hundred Thousand Dollars ($500,000) in stock payment of the share capital of a proposed public company of the seller. The Company carries the Aquilon project on its books at a value of $1,010,318 which represents just under 10% of the book value of all of the Company's mineral properties. A director of the Company has advised that he has made a secured personal loan to the purchaser to help facilitate the purchase. The proceeds of the sale will be used to fund the continuing operations of the Company.
For more information, please contact Marc A. Carrier, President & CFO.
Phone: (514) 426-8542; Fax : (514) 426-8543; Email: [email protected] www.goldentag.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Golden Tag Resources Ltd.
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EXPLORATION STAGE |
CODE : GOG.V |
ISIN : CA38121P1080 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Tag Res. is a gold exploration company based in Canada. Golden Tag Res. holds various exploration projects in Mexico. Its main exploration properties are VERNEUIL TOWNSHIP, MCCUAIG and AQUILON in Canada and SAN DIEGO in Mexico. Golden Tag Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 7.9 millions as of today (US$ 6.3 millions, € 6.0 millions). Its stock quote reached its highest recent level on April 20, 2007 at CA$ 0.78, and its lowest recent point on January 29, 2016 at CA$ 0.02. Golden Tag Res. has 78 930 000 shares outstanding. |