BRIEF-Tomagold signs LOI to acquire Red Metal Resources

Mon Sep 19, 2016 12:06pm EDT
 
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Sept 19 (Reuters) - Tomagold Corp

* Tomagold signs LOI to acquire Red Metal Resources

* Proposal would be that such Red Metal shareholders will receive in exchange an aggregate consideration of CAD $3.3 million

* Parties have agreed to a break-up fee of CAD $175,000 payable to Tomagold if Red Metal is in default of this LOI Source text for Eikon: