December 31, 2018, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that an agreement to finance has been concluded with Intact Gold Corp. (ITG-TSX:V) (“Intact”). The Terms of the agreement allow Intact to earn a 2.5% interest to the Lac Guéret South Graphite property in exchange for expenditure of $125,000 on the project by December 31st, 2018. During a period of 6 months, either party will have the right to execute a buy-back scenario in which Berkwood would purchase the 2.5% back by paying to Intact 875,000 units in Berkwood. Each unit will entitle Intact to receive one share and one half warrant of the Company. This transaction is subject to Exchange approval.
Tom Yingling, President and CEO states, “I am very pleased to have Intact partnered with our near-term advancement of our Lac Guéret South discovery. We are determined to advance the project toward a Preliminary Economic Assessment as soon as is practical, and we are thrilled to have the financial support and technical endorsement of Intact as we prepare to drive the Project forward.”
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.
On Behalf of the Board of Directors
Berkwood Resources Ltd.
President, CEO & Director
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Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.Neither TSX Venture Exchange (“Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.