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VANCOUVER, BC, March 8, 2024 /CNW/ – Rokmaster Resources Corp. RKR RKMSF 1RR (“Rokmaster” or the “Company“) announces that the Company has received a notice of default (the “Notice of Default“) from Huakan International Mining Inc. (“Huakan“) for the failure to make an option payment of C$19,400,000 to Huakan (the “Current Option Payment“) due on February 25, 2024 pursuant to the terms of an option agreement dated December 23, 2019 between the Company, Huakan and Huakan’s shareholders, as amended on January 30, 2023 (the “Option Agreement“).
Pursuant to the Option Agreement, Huakan granted to the Company an option (the “Option“) to acquire a 100% interest in Huakan’s J&L Property (which the Company has renamed to the “Revel Ridge Project”) located approximately 45 km from Revelstoke, British Columbia.
The Notice of Default states that the Company has until 4:30pm (Vancouver time) on April 8, 2024 to pay Huakan the Current Option Payment in full, failing which Huakan advises that it intends to immediately terminate the Option Agreement.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Rokmaster Resources Corp.
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