Nickel North acquires Sino’s mining claims in Ontario

These mining claims, which cover a total area of about 2,860.4ha, are known as the Nairn Property.

The acquisition is subject to a 2% net smelter returns royalty over six of the claims and third party freehold patent surface rights over eight of the claims.

In consideration for the Nairn Property, Nickel North issued 2,000,000 common shares at a deemed price of $0.25 per share for a deemed purchase price of $500,000 to Sino Minerals.

Sino Minerals is an affiliate of Goldrock Resources Co and SinoTech (Hong Kong).

Following the latest transaction, Goldrock, SinoTech (Hong Kong) and Sino Minerals collectively are the largest shareholders of Nickel North, and will hold 23,750,000 common shares of the company.

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