The original agreement was announced in September 2010 and under the new agreement, the company’s ownership stake in the property is increased from 87% to 100%.
The property purchase price is reduced from $500,000 (plus $50,000 and 50,000 shares Finder’s Fee) to $155,000 plus 75,000 shares.
The property size is increased from 334 sq km to an estimated 350 sq km with the addition of a strategic 15 sq km block of land south of the Gold Plateau Camp.
Ruby Creek president and CEO Robert Slavik said this new agreement is mutually beneficial for both parties as Ruby Creek adds more land to its Gold Plateau project with a larger ownership stake while the Kapinga family gets to participate in the company’s growth with an equity stake.
