AMI has bought out the ‘at arm’s length’ partners of Privco1 and Privco2 to secure 100% ownership of each company, which respectively hold the Montney and Duvernay premium domestic sand deposits. These transactions were combined and concluded for eight million AMI shares (plus $1.00), to be issued in three milestone installments and valued at $2.0 million in total.
The Corporation is also using AMI shares to make one final Annual Minimum Royalty (“AMR”) payment for Privco1, relating to the Montney deposit, valued at $200,000, with three corresponding milestone installments.
