Mining Companies Amend Purchase Option Agreement for Quebec Property

Megastar Development agrees to extend the due date of the final payment until year-end 2020.

In a news release, Megastar Development Corp. (MDV:TSX.V; MSTXF:OTC; M5QN:FSE) announced it amended its 2017 agreement that affords DeepRock Minerals the option to purchase a 50% interest in Megastar's Ralleau zinc-copper-silver property in Quebec's Abitibi Greenstone Belt.

The companies made two changes to the terms of the agreement. One was extending the due date of the final cash payment to Dec. 31, 2020 from April 5, 2020.

The second was adding a consideration to be paid by DeepRock for the extension, which it already carried out. That was issuing Megastar another 300,000 common shares, which took Megastar's total to 2 million.

All other requirements outlined in the agreement have been met, the companies reported.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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