Completes Initial Payment On Cobalt Claim
TSXV: SXL
MIRAMICHI, NB, March 28, 2018 /CNW/ - SLAM Exploration
Ltd. (TSXV: SXL) ("SLAM" or the "Company") is
pleased to announce that is has retained Mackie Research Capital
Corp. ("Mackie") of Toronto,
Ontario to provide market-making services. The market-making
services will be undertaken by Mackie in compliance with, and
subject to, the policies, guidelines and approval of the TSX
Venture Exchange.
Mackie will trade common shares of SLAM on the TSX Venture
Exchange for the purposes of providing market stability and
liquidity of the Company's common shares. In consideration for
these services, SLAM has agreed to pay Mackie $3,500 per month, paid quarterly in advance. The
contract will continue in effect unless terminated by either party
within written notice of 60 days. The Company and Mackie act at
arm's length, but Mackie may provide investment banking services to
SLAM, and Mackie and/or its clients may have an interest, directly
or indirectly, in the securities of the Company. The agreement is
solely for the purposes of maintaining market stability and
liquidity for the Company's common shares and is not a formal
market making agreement.
There are no market oriented performance factors contained in
the agreement between Mackie and the Company. Mackie will be
compensated only on a fee for service basis and will not receive
any shares or options from the Company as compensation for the
liquidity services it will provide.
The Company also announces that it has closed the acquisition of
one mineral claim comprising 24 units adjacent to SLAM's Portage
claim. The claim was acquired to cover a cobalt geochemical
anomaly 2 km east of SLAM's Portage zinc-lead-copper-silver
occurrence (please refer to our news releases of January 30, 2018 and March
20, 2018). Upon receipt of conditional approval from
the TSX-V, an initial payment of $5,000 cash plus 100,000 common shares of the
Company was made to the Vendor of the mineral claim. In addition,
the Company is required to pay $85,000 and issue an additional 300,000 common
shares over a three year period to earn a 100% interest in the
mineral claim. The common shares issued are subject to a four month
and one day hold period.
About Mackie Research Capital Corporation
Mackie Research is one of Canada's
largest independent full service investment firms, and proudly
traces its roots back to 1921. Mackie Research is privately owned
by many of its 300 employees. As a fully integrated national
investment dealer, Mackie Research offers a full complement of
capital markets and wealth management services to private clients,
institutions and growth companies.
About SLAM Exploration Ltd:
SLAM is a project-generating resource company holding an NSR
royalty on the Superjack, Nash
Creek and Coulee zinc‐lead‐copper‐silver properties and
owning a portfolio of base metal and cobalt properties in the
Bathurst Mining Camp ("BMC") of New Brunswick. The Company
continues to utilize its extensive BMC mineral database to explore
and develop properties in this historic region of mineral
potential. Other projects include the Menneval gold project
and the Reserve Creek and Miminiska gold projects in Ontario.
Additional information about SLAM and its projects is available at
www.slamexploration.com or from SEDAR filings at www.sedar.com.
Follow us on twitter @SLAMGold.
Certain information in this press release may constitute
forward-looking information, including statements that
address the Private Placement, the closing of the Private
Placement, future production, reserve potential, exploration
and development activities and events or developments that the
Company expects. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results
might differ materially from results suggested in any
forward-looking statements. The Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those reflected in
the forward looking-statements unless and until required by
securities laws applicable to the Company. There are a number of
risk factors that could cause future results to differ materially
from those described herein. Information identifying risks and
uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at
www.sedar.com. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE SLAM Exploration Ltd.