Brand X Lifestyle Corp Announces Joint Venture Option Agreement
Vancouver, British Columbia – (Newsfile Corp. – March 9, 2021) – Brand X Lifestyle Corp. (CSE: BXXX) (“Mark X” or the “Company”).
Brand X Lifestyle Corp. is pleased to announce that it has entered into a joint venture option agreement with arm’s length vendors to acquire a 100% interest in the Urban Barry gold project. The Urban Barry Gold project covers an area of 1,126 hectares in the Urban Barry Gold greenstone belt in central Quebec and is located entirely within claims held by Mine Osisko Inc., the camp’s largest landowner.
Under the terms of the agreement, Brand X can acquire a 100% interest in the project by issuing a total of 9,000,000 common shares, paying $ 1,300,000 over three years and completing $ 2,100,000 in exploration. . No new insider will be created as a result of this transaction. In addition, a gross overriding royalty of 1% (one percent) has been granted to sellers, of which ½% (half a percent) can be purchased from sellers for $ 1,000,000.
The northern extent of the project supports part of the Barry Urban Deformation Zone as well as parts of the two major gold camp faults, both of which have produced significant gold deposits.
“This represents a great opportunity for Brand X as an investment issuer to develop its portfolio in the mining sector. We believe this sector will continue to outperform and are working diligently on more opportunities in the mining and exploration industry. Our management team will not change our business focus as an investment issuer either, ”said Arni Johannson, CEO.
About Brand X Lifestyle Corp.
Brand X (CSE: BXXX) is an investment issuer that actively invests in a diversified portfolio of early to mid-stage companies and projects. Brand X leverages its extensive network of operators and global thought leaders to provide investors with a unique portfolio with multiple opportunities.
Phone. : 604-618-7781
This press release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements“) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding timing, consideration and the completion of the joint venture are forward-looking statements. While the Company believes such statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as “Pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “planned”, “estimates”, “plans”, “intends to” “,” Anticipates “,” believes “,” possible “or variations of these words, y variations thereof, and sentences that refer to certain actions, events or results that may, could, could, could or will occur or be taken or obtained. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the Company to differ materially from future results, performance or achievements expressed or implied by forward-looking statements. These risks and other factors include, among others, statements regarding completion of the Acquisition, anticipated business plans and the timing of the Company’s future activities, including the Acquisition, the Company’s ability to obtain a sufficient funding to fund its business activities and plans, delays in obtaining regulatory approvals (including from the Canadian Securities Exchange), changes in laws, regulations and policies affecting the operations of the Company and the ‘Limited operating history of the Company.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update any forward-looking statements contained in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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