Knick Exploration Inc (TSXV:KNX) entered into a purchase agreement to acquire a set of seven mining claims located in the Province of Québec for CAD 0.02 million in stock on January 14, 2012. Under the terms of the purchase agreement, Knick Exploration will issue 0.5 million of its common shares for the claims. The shares issued are subject to a mandatory holding period of four month and one day. Knick shall also pay a net smelter return royalty of 2% on all minerals or metals. Knick will also have the option to buy back the first 1% of the royalty for the sum of CAD 0.5 million and the remaining 1% for CAD 1 million. The agreement is subject to the regulatory approvals.

Knick Exploration Inc (TSXV:KNX) cancelled the acquisition of a set of seven mining claims located in the Province of Québec on January 14, 2013.