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Client Work

Adventure Gold grants SOQUEM an option on a share of its Detour Québec project

Fasken
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Overview

Client

Adventure Gold Inc.

Adventure Gold Inc. entered into an option and joint venture agreement with SOQUEM INC., granting SOQUEM an option to acquire a 50% undivided interest in Adventure Gold’s wholly- owned gold properties located at the center and west of its Detour Québec project, and creating a joint venture upon the exercise of such option. The properties subject to the agreement comprise a total of 531 mining titles covering an area of 286 sq. km, and will now be known as the Detour Québec SOQUEM project. Pursuant to this agreement, SOQUEM has the option to acquire 50% of Adventure Gold’s interest on the following conditions: Exploration investments totalling $4,000,000 over a four-year period;  A firm, $1,000,000 commitment during the first year; Adventure Gold acting as project manager during the option period. Fasken Martineau advised Adventure Gold in this transaction with a team led by Frank Mariage.

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