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| Home : Riverside Amends Agreement With Croesus Gold Corp. for Sugarloaf Peak Gold Project, Arizona, USA |
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Dec 22
2015 |
Riverside Amends Agreement With Croesus Gold Corp. for Sugarloaf Peak Gold Project, Arizona, USA |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 21, 2015) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99), is pleased to announce that it has amended its option agreement (the "Option Agreement") with Croesus Gold Corp. ("Croesus"), with the amending agreement (the "Amendment") effective December 18, 2015. Riverside has agreed to amend the terms of the Option Agreement in order for Croesus to satisfy its funding obligations in full by cash payments to Riverside of an aggregate of $750,000 CAD and the issuance of at least 6,000,000 common shares in the capital of Croesus. Once the cash and share payments are completed (see table below), Croesus will earn an undivided 100% interest in the Sugarloaf Peak Gold Project (the "Project") with Riverside retaining a 2% net smelter returns ("NSR") royalty. |
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| Source:http://www.marketwired.com/mw/release.do?id=2083711&sourceType=3 |
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