Under the amending agreement, a payment of US$300,000 due in March of this year has been amended to three payments of US$100,000 each payable over the next 11 months, with the first such payment due on March 13, 2014.
The final payment, in the amount of US$1,425,000 formerly due in September 2014, has been increased by US$75,000 and is deferred until July 2015.
In addition, under the amending agreement, the Company has agreed to issue 1,000,000 shares of the Company to the vendor and pay US$3,600,000 out of production from the property over and above its royalty.
At its option, TriStar may pay to the vendor US$1,500,000 on or prior to the making of a construction decision in lieu of the payment out of production. The issuance of the 1,000,000 shares under amending agreement is subject to acceptance for filing by the TSX Venture Exchange.
