Berkwood Resources Ltd (CVE:BKR) (OTCMKTS:CZSVF) said Thursday that it has exercised its right to buy back the 2.5% interest on its Lac Gueret South graphite project acquired by Intact Gold Corp (CVE:ITG) in December.
The mining firm said in a statement it had issued 875,000 million units, with each unit consisting of one common share and one-half warrant. Each whole warrant is exercisable into an additional common share at an exercise price of $0.15 per share for two years.
The securities have been issued with the required hold period of four months plus one day.
Lac Gueret South is located in Cote Nord, eastern Quebec, and comprises 288 claims, which cover a total area of 15,552 hectares.
Shares of Berkwood were at C$0.06 in Thursday’s Canadian trading.
Contact Katie Lewis at [email protected]