TomaGold Corporation announced that it has entered into agreements with SOQUEM Inc., Chibougamau Independent Mines Inc. and Globex Mining Enterprises Inc. ("Globex") to acquire a total of 20 mining properties that currently form the majority of the Chibougamau Mining Camp, in Quebec, Canada (the "Properties"). In order to acquire the Properties, the Corporation has committed to make global cash payments of $13,805,000, work commitments of $10,425,000, issue 16,625,000 common shares of TomaGold and issue an additional amount of $1,825,000 in common shares of TomaGold over a period of 2 to 5 years in accordance with the specific agreements. Upon signing, TomaGold will be required to make cash payments of $540,000, issue 6,625,000 common shares of TomaGold and issue an additional amount of $25,000 in common shares of TomaGold.
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