Tickers: XTSX:KNX
Tags: Mining
Val d'Or, Quebec, Canada / TheNewswire / January 25, 2017 - Knick Exploration Inc. (TSXV: KNX) ("Knick") is pleased to announce that, following its press release of January 13, 2017, the TSX Venture Exchange has approved the transaction. Consequently, Knick has bought back half of the existing royalty on its East-West gold Property and paid to the royalty holder an amount of $30,000 (with an additional amount of $20,000 to be paid at the latest July 23, 2017) and issued to such royalty holder 5,000,000 common shares.
The acquisition of this 1.75% of the NSR royalty by Knick increases the East-West property's potential as a forward moving project. The transaction is deemed advantageous to the company's investors in this age where there are an increasing number of companies dedicated to royalty acquisitions as potential high return upside investments.
Knick's 100% owned East-West property is located in the Val-d'Or-Malartic mining camp of Quebec, Canada. Its neighbours on strike to the east and west respectively are Wesdome Gold Mines Ltd. (TSX: WDO) Kiena Mine and Osisko Mining Inc. (TSX: OSK) Marban Mine. The property is bound to the north by claims recently acquired by Agnico Eagle Mines Ltd. (TSX: AEM). Adjacent to the south of Knick's ground is the Malartic Goldfields Mine property recently acquired and held jointly by Agnico Eagle Mines Ltd. and Yamana Gold Inc. (TSX: YRI).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Inc. Knick Exploration Inc.
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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