Toronto, Ontario--(Newsfile Corp. - November 27, 2023) - KO Gold Inc. (CSE: KOG) ("KO Gold" or the "Company") is pleased to announce that further to its news release dated October 30, 2023, the Company has acquired all of the issued and outstanding shares (the "Vendor Shares") in the capital of Hyde Resources Limited ("Hyde") pursuant to an arm's length share purchase agreement (the "Share Purchase Agreement") dated October 26, 2023 with Hyde and Smylers Gold Limited (the "Vendor") from the Vendor (the "Acquisition"). Hyde is a private company incorporated pursuant to the laws of New Zealand and owns a 100% undivided interest in two exploration permits (EP60129 Glenpark and EP60389 Smylers Gold) that comprise the "Smylers Gold Project" located in the Otago Gold District of the South Island of New Zealand (the "Property").

As consideration for the Acquisition, the Company issued the Vendor an aggregate of 3,500,000 common shares (each, a "Common Share") in the capital of the Company at a deemed price of $0.30 per Common Share and granted the Vendor a two percent (2%) net smelter return royalty (the "NSR") for the duration of the life of the project on the Property, of which one percent (1%) (such that the remaining NSR shall be reduced to a one percent (1%)) may be purchased by the Company at any time in consideration of a NZ$2,000,000 cash payment. In addition, upon the production of any gold from the Property, the Company shall pay the Vendor CAD$20.00 for each ounce of gold produced for the life of the project.
see & read more on
https://www.newsfilecorp.com/release/188835/KO-Gold-Acquires-Hyde-Resources-Limited-and-the-Smylers-Gold-Project-in-New-Zealands-Otago-Gold-District