RT Minerals Corp. (OTCMKTS:RTMFF) has announced that further to the press release dated March 22, 2022, the company has abandoned and returned the 102 square kilometers of Catharine Gold Inc. Claims (CGI Claims) to the Crown. They were originally acquired on July 14, 2021 for consideration of 21,000,000 common shares of the company, subject to a TSX Venture Exchange Surplus Escrow Share Agreement.
Trading Data
On Friday, RTMFF stock ended flat at $0.0240 with more than 13.6K shares, compared to volume of 1.5K shares. The stock moved within a range of $0.0240 – 0.0240 after opening trade at $0.0210.
RT Minerals Corp. is a junior exploration company that holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property comprised of fifteen unpatented single cell mining claims with a total area of 220 hectares in one claim block.
Since it was unable to reach an agreement with the original vendors to return the CGI Claims to them, the company has decided to abandon the CGI Claims. This action results in a requirement under the Escrow Agreement and the policies of the TSX Venture Exchange to cancel 18,900,000 Surplus Escrow Shares remaining in escrow.
As of now, the company will proceed to take such steps as are required to effect the cancellation of the remaining Surplus Escrow Shares. After cancellation and return to treasury of the Surplus Escrow Shares, the company now has 59,794,654 common shares issued and outstanding.
