11:05 AM EST, 12/06/2024 (MT Newswires) -- Equity Metals ( EQMEF ) on Friday said the TSX Venture Exchange has approved its intention to acquire a 100% interest in the Arlington gold property in British Columbia from Origen Resources ( OGGNF ) .

Equity paid $80,000 and issued 944,686 shares valued at $200,000, to Origen. To exercise its option, Equity must pay another $50,000 and issue 2-million shares to Origien within one year. Equity must also incur exploration expenditures of $250,000 on the property.

Origen will retain a royalty of 2% of net smelter returns, half of which may be bought back by Equity for $1 million.

The company's shares were last seen down $0.005 to $0.195 on the TSX Venture Exchange.

Price: 0.20, Change: -0.01, Percent Change: -2.50