Teako Minerals Corp. entered into a purchase agreement to acquire 100% interest in Yellow Moose project in British Columbia, Canada from Cuprita Minerals Inc. for CAD 0.25 million.

Teako Minerals Corp. (CNSX:TMIN) entered into a purchase agreement to acquire 100% interest in Yellow Moose project in British Columbia, Canada from Cuprita Minerals Inc. for CAD 0.25 million on July 18, 2023. Under the terms of the agreement, Teako will acquire a 100% interest in the Property from Cuprita, in consideration for the issuance of 3,500,000 shares of the Company to Cuprita; Cuprita retains a 2% Net Smelter Return (?NSR?); and Teako can buy back 1% of the NSR, thus reducing the NSR to 1%, for a price of CAD 1,000,000.

All shares issued to Cuprita will be subject to a 4-month and one-day hold, and are subject to the Company?s filing requirements with the Canadian Securities Exchange (?CSE?) and approval of the CSE, as may be required under CSE Policy 6.