Harrys Announces Entry into Option Agreement for Winslow Gold Project
Rhea-AI Summary
Harrys (WSRRF) entered into an option agreement to acquire 100% of the Winslow Gold Project in southeastern British Columbia. To exercise the option, Harrys must pay up to $1,025,000 in staged cash payments over roughly two years.
After exercise, the vendors will retain a 2% net smelter returns royalty, with Harrys able to buy back 1% for $500,000. Completion depends on CSE approval, shareholder approval, a NI 43‑101 technical report, and securing 12 months of working capital. Harrys also hired Volume Hunters for 12 months of social media consulting for $135,000.
Positive
- Option to acquire 100% interest in Winslow Gold Project
- Staged cash payments totaling $1,025,000 over up to two years
- Royalty can be reduced from 2% to 1% for $500,000
- Winslow Gold Project becomes first material mineral property on completion
Negative
- Transaction subject to CSE approval and shareholder approval
- Completion requires NI 43-101 technical report and 12 months working capital
- Company expects additional capital raising to meet working capital condition
- Vendors retain 2% NSR royalty on the property post-option exercise
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2026) - Harrys Manufacturing Inc. (CSE: HARY) (the "Company", "Harrys", "we" or "our" or "us") is pleased to announce that it has entered into a mineral property option agreement dated June 22, 2026 (the "Option Agreement") with 1430490 B.C. Ltd. ("143 Ltd.") and Sebastien Latour ("Latour", and together with 143 Ltd., the "Optionors") pursuant to which the Company has acquire an option (the "Option") to acquire
Option Agreement
Pursuant to the terms and conditions of the Option Agreement, in order to exercise the Option, the Company must pay the Optionors an aggregate of
$25,000 on or before June 26, 2026;an additional
$250,000 on or prior to the one (1) year anniversary of the date (the "Effective Date") that is five (5) business days following the date on which the certain conditions precedent as set forth in the Option Agreement are satisfied; andan additional
$750,000 on or prior to the two (2) year anniversary of the Effective Date.
Following the exercise of the Option, the Company shall grant the Optionors an aggregate two percent (
The Company's acquisition of the Option (the "Transaction") is subject to a number of customary conditions including, but not limited to, meeting all conditions required by the Canadian Securities Exchange (the "CSE") to receive approval of the Transaction, including the Company having sufficient working capital for 12 months, which will require additional capital raising activities by the Company, and the receipt of approval from the Company's shareholders, and the Company's receipt of a Technical Report prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Project ("NI 43-101"). The Transaction cannot be completed until these conditions have been satisfied or waived. There can be no guarantees that the Transaction will be completed as contemplated or at all.
Following the completion of the Transaction, the Company will be a mineral exploration company primarily engaged in exploration of the Property, and the identification and acquisition of additional mineral exploration properties. The Property, which is in the exploration stage, will be the Company's first material mineral property interest.
Engagement of Volume Hunters
The Company also announces it has entered into an agreement with 0865381 B.C. Ltd., doing business as "Volume Hunters" ("Volume Hunters") to provide the Company with various social media consultation services. The term of the engagement is for a period of twelve months commencing on July 1, 2026. As consideration for the services to be provided the Company will pay Volume Hunters
ON BEHALF OF THE BOARD
Nick Brusatore
CEO
For further information, please contact:
Corporate Communications
Telephone: 604-356-0411
Email: harrysmfg@gmail.com
www.harrysmfg.com
Forward-Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the completion of the Transaction. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302600