Wildsky Resources Inc. Signs MOU Concerning Option of Zimbabwean Gold Property
Rhea-AI Summary
Wildsky Resources (HWTHF) entered a non-binding MOU to option a Zimbabwe gold/base-metal property covering 484.14 km2 (EPOs 1725 and 1622).
To earn 100% the company must pay USD 100,000 on signing, additional USD 50,000 plus USD 100,000 in shares at 12 months, issue USD 200,000 in shares and spend USD 2,000,000 on exploration within 24 months. A 5% NSR applies, capped at USD 10,000,000. Transaction requires a formal option agreement and Exchange approval.
Positive
- 100% option to two EPOs covering 484.14 km2
- Committed USD 2,000,000 exploration spend within 24 months
- Upfront cash requirement of USD 100,000 supports near-term deal progress
- Contingent share issuances align vendor incentives to project success
Negative
- 5% NSR on production could reduce long-term revenue
- NSR capped at USD 10,000,000 limits vendor upside but still dilutive
- Transaction subject to Exchange approval delaying closing timing
News Market Reaction – HWTHF
In the Mar 26 session, HWTHF declined 20.06%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Wildsky Resources Inc. (TSXV: WSK) (the "Company") hereby announces that it has entered into a non-binding memorandum of understanding (the "MOU") with respect to an option (the "Option") to acquire a gold and base metal property located in Zimbabwe from Midau Mining (Private) Limited and Krumlin Mining (Private) Limited (collectively, the "Optionors").
Pursuant to the terms of the Option, the Company may acquire a
In order to exercise the Option, the Company must undertake the following cash payments and exploration on the Property:
- Pay the Optionors USD
$100,000 in cash on signing of the Option Agreement; - Twelve months after the date ("Bulletin Date") of the Final Exchange Bulletin for the acquisition of the Option, pay the Optionors a further USD
$50,000 in cash and issue to the Optionors that number of common shares in the capital of WSK equal to a value of USD$100,000 ; and - Within Twenty-four (24) months after the Bulletin Date, issue to the Optionors that number of common shares in the capital of WSK equal to a value of USD
$200,000 , and spend not less than USD$2,000,000 in exploration expenses on the Property.
The Property shall be subject to a
Subject to the approval of the Exchange, in the event that the Company attains production or reserves of 1Moz AU on the Property, the Company shall issue 200,000 common shares in the capital of the Company to the Optionors. And, in the event that the Company attains production or reserves in excess of 2Moz AU on the Property, the Company shall issue a further 200,000 common shares in the capital of the Company to the Optionors.
If, at any time after earning its
The parties to the proposed transaction are at arms' length. No finder's fee is payable in connection with the proposed transaction.
About Wildsky Resources Inc.
Wildsky Resources Inc. is a Canadian based exploration and development company with an office located in Vancouver, B.C. The Company's goal is to create value for shareholders through continuously exploring and developing its current properties in Nigeria, and at the same time looking for new properties to acquire through its international connections.
For more information on Wildsky Resources, please contact the Company at (778) 889-4966, or visit the Company's website at www.wildskyresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
signed by "Wenhong Jin"
Wenhong Jin
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289556