Record Resources Inc. (TSXV: REC) announced that it is actively working with the TSX Venture Exchange to address supplementary information requests regarding the final agreement. This collaborative process underscores Record's commitment to transparency and its focus on maintaining the highest standards of corporate governance. As initially disclosed on November 21, 2024, Record Resources entered into an arm's-length agreement with a private exploration company.
The proposed terms provide Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a price of $0.03 per share and a cash consideration of $39,000. The vendor will retain a 2% gross revenue royalty, with the option for Record Resources to repurchase half of the royalty for $2 million. Record Resources thanks its stakeholders for their continued support and confidence as the company advances its initiatives. This news release contains'forward-looking information' and'forward-looking statements' (collectively,'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news releas