Sky Gold Corp. Announces Updates on Horne and Laurie Properties Agreement

Sky Gold Corp. has provided an update concerning its agreement with Delta Resources Ltd. regarding the Horne and Laurie properties. Under the terms of the agreement, Delta Resources can acquire a 100% interest in the properties located near Thunder Bay, Ontario. Delta has also issued 1.4 million common shares to Sky and paid $75,000.

As part of the deal, Delta will assume all remaining obligations from Sky, except for issuing 1.2 million shares to the original vendors, which Sky has now completed. Additionally, Delta will take on the 2.0% NSR royalty obligations, which include a buyback clause for the original vendors.

Sky retains a 1.0% NSR royalty on the Horne and Laurie properties, with Delta having the option to repurchase 0.5% for $1 million. Various share transfer restrictions and statutory hold periods apply to the issued shares.