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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goldcliff Resource Corporation | TSXV:GCN | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.015 | 0.015 | 0.02 | 0.015 | 0.015 | 0.015 | 335,000 | 19:49:16 |
Cash Payments
A total of USD $200,000 in cash payments made up of the following payments;
Common Shares Payments
A total of 2,750,000 commons shares made up of the following share payments;
Lincoln shall not be required to issue shares to Goldcliff to the extent that such issuance would result in Goldcliff holding 10% or more of the outstanding shares of Lincoln (the “Cutback”). To the extent that the Cutback reduces the number of shares specified above, Lincoln shall issue the shares that were subject to the Cutback as soon as practicable following the expansion of Lincoln share capital. Goldcliff will become a significant Lincoln shareholder but will remain below the 10% insider threshold.
Goldcliff President George Sanders said, “We found that the two junior companies ownership structure was a serious obstacle to financing on-going development and production. The solution reported today is of great benefit to both Companies. It provides Goldcliff with non-dilutive capital and retains for our shareholders significant exposure to this exciting gold development project. It also facilitates project financing for a re-organized Lincoln, who will own 100% of the project.”
Any share issuance by Lincoln will be subject to TSX Venture exchange approval.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release.
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