GESPEG COPPER RESOURCES INC. (TSX-V: GCR) (the “Company” or “Gespeg”) is pleased to announce the signature of a Letter of Agreement with DNA Canada Inc. pursuant to which Gespeg shall acquire from DNA all the following assets:
This acquisition will allow Gespeg to develop and to evaluate the four tailings sites from past production that are found at the Montauban project. The Company has already begun exploration and evaluation work at the property and will update shareholders in the next coming weeks.
Sylvain Laberge, President & CEO of Gespeg,“We are extremely pleased with this acquisition, as it will take the Company to the next level. Furthermore, having the geological knowledge and technical expertise from the Osisko Metals team, who will be acting as operator for the exploration of base metals on the property, will be an added value, and allow us the opportunity to focus on the precious metals”.
The completion of the Acquisition is subject to its approval by the shareholders of DNA and the TSX-V.
Terms of the Acquisition
The Acquisition shall be completed by Gespeg in consideration of the issuance by Gespeg to DNA of a convertible debenture for an aggregate capital amount of $2,267,295 (the “Debenture”).
About Gespeg:
Gespeg is an exploration company with a focus in underexplored regions “Montauban, Gaspé, Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.
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