ATHENA SILVER CORPORATION (OTCMKTS:AHNR) Files An 8-K Entry into a Material Definitive Agreement
Effective December 15, 2020, Athena Silver Corp (“Athena” or the “Company”) issued a press release announcing that further to its press release dated August 31, 2020, it has entered into a definitive Property Option Agreement (the “Option Agreement”) with Nubian Resources Ltd. (“Nubian”) (TSXV: NBR), to which Nubian has granted Athena the option (the “Option”) to acquire a 100% interest in Nubian’s Excelsior Springs exploration project (“Excelsior Springs”) located in Esmeralda County, Nevada, USA (“Excelsior Springs” or the “Property”). Copies of the Option Agreement and press release are filed herewith as Exhibits 10.1 and 99.1 respectively.
The Option is exercisable in two tranches: the first tranche is exercised immediately to which the Company can acquire a 10% interest in Excelsior Springs in consideration of issuing to Nubian an aggregate of 5.0 million shares of Athena common stock. The second tranche is exercisable on or before December 31, 2021 to purchase an additional 90% interest in Excelsior Springs in consideration of issuing to Nubian an additional 45 million shares of Athena common stock. Should both options be exercised, Nubian will hold 50 million shares of Athena common stock, which will be subject to a six month lockup.
The Excelsior Springs project consists of multiple unpatented BLM mining claims that are currently not operational.
The information in this Current Report on Form 8-K furnished to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
ATHENA SILVER CORP Exhibit
EX-10.1 2 athena_ex1001.htm OPTION AGREEMENT Exhibit 10.1 OPTION AGREEMENT among NUBIAN RESOURCES LTD. and NUBIAN RESOURCES (USA) LTD. and ATHENA SILVER CORPORATION Dated December 11,…
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About ATHENA SILVER CORPORATION (OTCMKTS:AHNR)
Athena Silver Corporation is an exploration-stage company. The Company is engaged in the acquisition and exploration of mineral resources. It is focused on evaluation of the Langtry Property, including the acquisition of additional mineral rights and additional exploration, development and permitting activities. The Langtry Property is located in the Calico Mining District, San Bernardino County, California. The Langtry Project covers approximately 1,200 acres and consists of over 20 lode mining claims and over 40 lode mining claims. The Lease/Option also includes over two mining claims in the Calico Mining District known as the Lilly #10 and Quad Deuce XIII. It has approximately 160 acres of land (Castle Rock), which is located in the eastern Calico Mining District, San Bernardino County, California. The Company’s subsidiary, Athena Minerals, Inc., owns and operates its mining interests. It has approximately 660 acres of land (Section 13 Property) near the Lava Beds Mining District.