TSX Venture Exchange Stock Maintenance Bulletins – Press Release

VANCOUVER, BC, March 23, 2022 /CNW/ –

TSX VENTURE COMPANIES

CLIFFSIDE CAPITAL LTD. (“CEP“)
BULLETIN TYPE:  Declaration of Dividend
BULLETIN DATE:  March 23, 2022
TSX Venture Tier  2 Company

The Issuer has declared the following dividend:

Dividend per common share:  $0.0025
Payable Date: May 2, 2022
Record Date: April 15, 2022
Ex-dividend Date:  April 13, 2022                                                          

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PENDER STREET CAPITAL CORP. (“PCP.P“)
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

Further to TSX Venture Exchange bulletin dated March 21, 2022, effective at the open of market March 25, 2022 shares of the Company will resume trading.

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22/03/23  – TSX Venture Exchange Bulletins

TSX VENTURE COMPANIES

EXGEN RESOURCES INC. (“EXG”)
BULLETIN TYPE:  Private Placement – Non-Brokered
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 23, 2021, January 14, 2022 and January 18, 2022:

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release announcing the closing of the private placement setting out the expiry dates of the hold period(s) on March 21, 2022.

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GALLEON GOLD CORP. (“GGO“)
BULLETIN TYPE:  Property-Asset or Share Purchase Agreement
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

The TSX Venture Exchange has accepted for filing documentation pertaining to a Purchase Agreement (the “Agreement”) dated March 2, 2022, between the Company and an arm’s length party (the “Vendor”), whereby the Company has acquired 129 mineral claims totaling 2,760 hectares, contiguous to the Company’s existing property position at its West Cache Gold Project in Timmins, Ontario.

As consideration, the Company has issued to the Vendor 250,000 common shares at a deemed $0.55 per common share.

For more information, please refer to the Company’s news release dated March 3, 2022.

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RESAAS SERVICES INC. (“RSS”)
BULLETIN TYPE:  Halt
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

Effective at 5:53 a.m. PST, March 23, 2022, trading in the shares of the Company was halted at the request of the Company, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

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RESAAS SERVICES INC. (“RSS”)
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  March 23, 2022
TSX Venture Tier  2 Company

Effective at  9:30 a.m. PST, March 23, 2022, shares of the Company resumed trading, an announcement having been made.

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Santacruz silver mining Ltd. (“SCZ“)
BULLETIN TYPE:  Property-Asset or Share Purchase Agreement, Shares for Services
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

Property-Asset or Share Purchase Agreement

TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement (the “Agreement“) dated October 11, 2021, as amended, between the Company and certain subsidiaries of Glencore plc (collectively, “Glencore“), whereby the Company will acquire several corporate entities which hold a 100% interest in the Sinchi Wayra business which includes the producing Caballo Blanco mining complex (“Caballo Blanco“), the Soracaya exploration project located in Bolivia and the San Lucas ore sourcing and trading business, a 45% interest in the producing Bolivar and Porco mining operations held through an unincorporated joint venture with Corporación Minera de Bolivia, a Bolivian state-owned entity and certain related properties and assets (together, the “Assets“).

Under the terms of the Agreement, the Company will earn its interests in the Assets by (i) issuing a USD$12,011,148 promissory note which is payable within 30 days of closing and (ii) making additional cash payments of USD$90.0 million over a four-year period.  Glencore will retain (i) a 14% gross profit royalty on the ore sourcing and trading business portion of the Assets and (ii) a 1.5% net smelter returns royalty on the remainder of the Assets.

For further details, please refer to the Company’s news releases dated October 13, 2021, November 15, 2021 and March 21, 2022.

Shares for Services

TSX Venture Exchange has accepted for filing the Company’s proposal to pay US$320,000 cash and issue 3,077,317 shares at a deemed price of CAD$0.41, in consideration of certain services provided to the Company pursuant to a Financial Consulting Service Agreement dated March 5, 2021 between the Company and Big Buck Capital, S.C. (Felipe Molina Bernal).

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ST. JAMES GOLD CORP. (“LORD“)
BULLETIN TYPE:  Halt
BULLETIN DATE: March 23, 2022
TSX Venture Tier  2 Company

Effective at  6:34 a.m. PST, March 23, 2022, trading in the shares of the Company was halted at the request of the Company, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

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ST. JAMES GOLD CORP. (“LORD“)
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  March 23, 2022
TSX Venture Tier  2 Company

Effective at  8:00 a.m. PST, March 23, 2022, shares of the Company resumed trading, an announcement having been made.

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SUMMA SILVER CORP. (“SSVR“)
BULLETIN TYPE:  Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

TSX Venture Exchange acknowledges two Amended and Restated Mining Lease Agreements (the “Lease Amended Agreements”) entered on September 20, 2021 between various mining claim owners (the “Lessors”), and Summa Silver (U.S.) Corp. (a wholly owned subsidiary of Summa Silver Corp. (the “Company”)) and Allegiant Gold (US) Ltd. (a wholly owned subsidiary of Allegiant Gold Ltd.) with respect to two mining claim groups related to the Company’s option in the Mogollon property in Catron County, New Mexico. TSX Venture Exchange approves the first year’s lump sum payment for each Lease Amended Agreements (detailed below). All future shares issuances remain subject to the Exchange’s pricing requirements and prior approval of the Exchange.

Two Lease Amended Agreements:

1. The Amended and Restated Mining Lease Agreement (the “Mogollon Enterprise Amended Lease Agreement”) between Mogollon Enterprises, Inc. (Elton Clark, Charlotte Stewart and Carney Foy), Summa Silver (U.S.) Corp. and Allegiant Gold (U.S.) Ltd.
   
2. The Amended and Restated Mining Lease Agreement (the “Mack-Parker-Holt Amended Lease Agreement”) between John Mark, Wesley Parker, Frederick Hott, and Summa Silver (U.S.) Corp., and Allegiant Gold (U.S.) Ltd.

Summa Silver Corp. (the “Company”), Summa Silver (U.S.) Corp., Allegiant Gold Ltd. (“Allegiant”). and Allegiant Gold (U.S.) Ltd. entered into an option and joint venture agreement dated August 21, 2020, whereby the Company can acquire up to a 100% interest in the Mogollon Property, subject to underlying royalties in claim lease agreements. The Mogollon Enterprise and Mack-Parker-Holt Patented Claim Groups, are all subject to lease agreements with underlying property owners and claim holders, respectively. These two leases are all ten years in duration and renewed by Allegiant in 2019. The Lease Amended Agreements continue the renewed leases and include new terms addressing:

Mogollon Enterprise Amended Lease Agreement:

1. The Company shall annually make a lump sum payment of US$33,023, of which US$9,006 maybe paid in shares at the election of the Company. The amounts of US $33,023 and $9,006 are indexed to the Price Index for Industrial Commodities as published by the United States Bureau of Labor Statistics (“PPI”). The annual lump sum payment is not creditable against future production royalty amounts.
2. Production Royalty shall be 4% of net smelter return (NSR) royalties for Product sold.
3. The Company has an option to buy down up to 2% of Production Royalty as follows: US$125,000 for 0.5%; US$125,000 for an additional 0.5%; US$250,000 for an additional 0.5% and US$500,000 for an additional 0.5%. All these buy-down payments are indexed to PPI. The first three buyback payments must be made in cash (i.e., US$500,000 for 1.5%). One-half of the final buyback payment (i.e., US$500,000 for 0.5%) can be made by issuing shares of the Company, at the election of the Company.

Mack-Parker-Holt Amended Lease Agreement:

1. The Company shall annually make a lump sum payment of US $66,044, of which US$18,012 may be paid in shares at the election of the Company. The amounts of US$66,044 and US$18,012 are indexed to PPI. The annual lump sum payment is not creditable against future production royalty amounts.
2. Production Royalty shall be 4% of net smelter return (NSR) royalties for Product sold.
3. The Company has an option to buy down up to 2% of Production Royalty as follows: US$250,000 for 0.5%; US$250,000 for an additional 0.5%; US$500,000 for an additional 0.5% and US$1,000,000 for an additional 0.5%. All these buy-down payments are indexed to PPI. The first three buyback payments must be made in cash (i.e., US$1,000,000 for 1.5%). One-half of the final buyback payment (i.e., $US1,000,000 for 0.5%) can be made by issuing shares of the Company, at the election of the Company.

TSXV Approval

Mogollon Enterprise Amended Lease Agreement:

TSX Venture Exchange approves the first annual lump sum payment of US$33,023, of which US $24,017 will be paid by cash and US$9,006 will be paid in 9,133 common shares at a deemed price of CAD$1.24 per share. All future shares issuances remain subject to the Exchange’s pricing requirements and prior approval of the Exchange.

Mack-Parker-Holt Amended Lease Agreement:

TSX Venture Exchange approves the first annual lump sum payment of US$66,044, of which US $48,032 will be paid by cash and US$18,012 will be paid in 18,267 common shares (6,089 common shares to each of John Mack, Fred Hott and Wes Parker) at a deemed price of CAD$1.24 per share. All future shares issuances remain subject to the Exchange’s pricing requirements and prior approval of the Exchange.

This acquisition is considered an Arm’s Length transaction.

For further information, please reference the Company’s news release dated March 23, 2022, August 24, 2020, and August 25, 2020.        

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WEALTH MINERALS LTD. (“WML“)
BULLETIN TYPE:  Shares for Bonuses
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company’s proposal to issue a total of 5,306,121 bonus warrants, each exercisable for one share at a price of $0.245 per share for a one year period expiring April 15, 2022, in consideration for the extension of two loans in the principal amount of $1,000,000 and $300,000.

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WILDPACK BEVERAGE INC.  (“CANS“) (“CANS.DB“) (“CANS.WT“) (“CANS.WT.A“)
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

Effective at 5:45 a.m. PST, March 23, 2022, shares of the Company resumed trading, an announcement having been made.

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ZENTEK LTD. (“ZEN”)
BULLETIN TYPE:  Halt
BULLETIN DATE:  March 23, 2022
TSX Venture Tier 2 Company

Effective at 7:41 a.m. PST, March 23, 2022, trading in the shares of the Company was halted Single Stock Circuit Breaker; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

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ZENTEK LTD. (“ZEN“)
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  March 23, 2022
TSX Venture Tier  2 Company

Effective at  7:46 a.m. PST, March 23, 2022, shares of the Company resumed trading, an announcement having been made.

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NEX COMPANY:

PACIFIC ARC RESOURCES LTD.  (“PAV.H“)
BULLETIN TYPE:  Remain Halted
BULLETIN DATE:  March 23, 2022
NEX Company

Further to the TSX Venture Exchange (‘TSXV’) Bulletin dated March 17, 2022, trading in the shares of the Company will remain halted Pending Receipt and review of acceptable documentation regarding the change of business and/or Reverse Take-Over pursuant to Listings Policy 5.2

This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

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SOURCE TSX Venture Exchange

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