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Berkwood Resources buys back 2.5% position from Intact Gold

Berkwood Resources said Thursday it has exercised its right to buy back its 2.5% position from Intact Gold Corp on the Lac Gueret South deposit in Quebec
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Lac Gueret South is located in Cote Nord in eastern Quebec

Berkwood Resources Ltd (CVE:BKR) (OTCMKTS:CZSVF) said Thursday that it has exercised its right to buy back the 2.5% interest on its Lac Gueret South graphite project acquired by Intact Gold Corp (CVE:ITG) in December.

The mining firm said in a statement it had issued 875,000 million units, with each unit consisting of one common share and one-half warrant. Each whole warrant is exercisable into an additional common share at an exercise price of $0.15 per share for two years.

READ: Berkwood Resources reports promising results from Lac Gueret South deposit in Quebec

The securities have been issued with the required hold period of four months plus one day.

Lac Gueret South is located in Cote Nord, eastern Quebec, and comprises 288 claims, which cover a total area of 15,552 hectares.

Shares of Berkwood were at C$0.06 in Thursday’s Canadian trading.

Contact Katie Lewis at [email protected]

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