Great Republic Mining (CSE:GRM) announced an amendment to the Porcher Island property agreement and an anniversary issuance of shares for the property.
The company has the option to acquire a 100% interest in the Porcher Island vanadium-titanium-iron property, which spans 3,560.4 hectares in British Columbia.
Under the original agreement, if Great Republic were to terminate the agreement, it would need to maintain the property for 12 months.
In lieu of this condition, the property vendors have agreed to accept 420,000 Great Republic shares.
Additionally, as part of the 24-month anniversary of the Porcher Island property agreement, Great Republic has issued 500,000 shares to the vendors.
All other work and share issuance commitment dates from the original agreement remain unchanged.