The Pascalis property is situated 26km east of Val-d’Or, Quebec, where several gold properties are located. Blue note has sold its 100% interest in 43 claims for a payment of $75,000 and issuance of 500,000 Adventure Gold shares.
As part of the deal, Adventure Gold will grant a 2% net smeller royalty (NSR) on the claims and the company can purchase 1% of the NSR at any time by paying $1m.
Adventure Gold’s payment of securities is subject to a four-month hold period from their date of issuance. The agreement is subject to regulatory approval.
