Belleterre Project
Management of Vantex Resources Ltd, on January 16, 2012, announced an option agreement with Aurtois Exploration Inc. (EXA-TSX V). Aurtois will have the option to acquire 100 % of the Guillet and Ortona properties by fulfilling the following conditions :
Aurtois can acquire a 75 % interest in exchange for :
- A sum of $120,000 payable to Vantex in monthly payments of $10,000, starting at the signing of the agreement;
- The issuance of 4,500,000 common shares of Aurtois for the benefit of Vantex;
- The delivery of a prefeasibility study on either one of the properties, presented within 5 years from the date of signing of the agreement.
Aurtois can acquire the remaining 25 % interest in exchange for :
- A sum of $2,000,000 payable to Vantex and a 1 % NSR royalty on the Guillet property as well as a 1 % NSR on the Ortona property for the benefit of Vantex.
- The previous owners will receive a 3 % NSR royalty on the Guillet property and a 1 % NSR on the Ortona property. The Vantex NSR can be bought back for $2,000,000 on each of the two properties.
- Aurtois can acquire this remaining 25 % interest within a period of 5 years