March 7, 2017 / 7:18 PM / a year ago

BRIEF-Bowmore signs purchase agreement to acquire Brunswick belt property in New Brunswick

March 7 (Reuters) - Bowmore Exploration Ltd

* Bowmore signs a purchase agreement to acquire 100% of the Brunswick belt property in New Brunswick, Canada

* Pursuant to purchase agreement company will acquire interest in project by issuing to owner 2.8 million common shares of corporation

* Under terms of purchase agreement, company will have no further financial obligations to the private owner

* Shares issued to vendor in counterpart of acquisition will be escrowed for period 18 months with release period every 6 months

* Under terms of purchase agreement Bowmore will not be encumbered with any area of interest

* Co will retain 100% of all net smelter royalties (NSR) from proceeds of any commercial production from Brunswick belt property Source text for Eikon: Further company coverage:

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