MQR – Marquee Resources | Aussie Stock Forums

Marquee Resources Limited (Company or Marquee) (ASX:MQR) is pleased to announce that it has entered into a binding Share Purchase Agreement (SPA) with the shareholders (Sellers) of Canadian CO27 Pty Ltd (CO27) under which it intends to acquire 100% of the issued capital of CO27 (Acquisition).

CO27 is party to the following agreements (Project Agreements) to acquire interests in the following cobaltprojects (Projects):

• An agreement with Global Energy Metals Corp. (GEMC) to earn up to a 70% interest in the Werner Lake Project;
• An agreement with Caamo Capital Corp., Gino Chitaroni and Blackstone Development Inc. to acquire a 100% interest in the Skeleton Lake Project; and
• An agreement with Perry Vern English to acquire a 100% interest in the Werner Lake East/West Project.

The purchase price payable to the Sellers for the acquisition of CO27 is 11,000,000 shares in the Company, and AUD$200,000 plus US$150,000 in cash, of which AUD$25,000 plus US$20,000 in cash comprises a non-refundable deposit enabling the Company to carry out an exclusive, 60-day period of due diligence into the Projects. The cash component is subject to ASX granting ‘pass through’ relief from Listing Rule 10.7, or the Company providing ASX with appropriate evidence of past expenditure on the Projects.