Olivut Resources Ltd. (TSXV:OLV) acquired 50% stake in Seahorse Project of Talmora Diamond Inc. for CAD 0.2 million on July 6, 2020. Olivut acquired the 50% by exercising the option agreement it had entered into with Talmora on July 6, 2018. As per the transaction, Olivut will pay CAD 0.2 million to Talmora and will spend CAD 1.2 million over two years. Pursuant to the transaction, Talmora and Olivut will be joint (50/50) owners of the Seahorse assets and Talmora will retain a 1% net smelter return .royalty on certain Seahorse land.

Olivut Resources Ltd. (TSXV:OLV) completed the acquisition of 50% stake in Seahorse Project of Talmora Diamond Inc. on July 6, 2020.