The property is located in north-western Quebec, 44 km southwest of Chibougamau and consists of two blocks totaling 81 mining claims covering 4,300 hectares.
Under the sales agreement, Mazorro may acquire up to 100% of the rights and interests of the Company’s Monster Lake area property by making cash payments totaling $ 50,000, and by issuing 4,000,000 common shares of Mazorro to the Company and 1,000,000 warrants, each warrant to purchase one (1) common share of Mazorro for a period of two (2) years from the closing date at a price of $ 0.10 per share. In addition, Mazorro grants to the Company a royalty of 2.0% (NSR). Mazorro has the option to purchase 1% of the NSR for a cash consideration of $ 250,000 payable to Synergy.
