Hemis Corporation (HMSO.OB) reports that it has entered into an agreement to acquire Aspen Exploration Corporation’s Anchor Point gold project in the Cook Inlet area of Alaska, which includes all of Aspen’s interests in maps, aeromagnetic surveys and geological information developed by Aspen in the Cook Inlet as well as rights to Offshore Prospecting Permit (OPP) applications.
Under the terms of the agreement, Aspen was paid $50,000 at signing and will be paid this amount on each anniversary of the agreement in order to maintain Hemis’ interest in the project. Aspen is entitled to a 5% production royalty, which may be taken in kind or in cash as Aspen prefers.
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