Company: LINMF
Filing Date: 2025-08-01
Form Type: 20-F
Source: 0001176256-25-000065
Chunk: 18

Company: Linear Minerals Corp
Filing Date: 2025-08-01
Form: 20-F
Item: Item 4
Chunk 18
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 claims between the two companies.
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Sales Agreement for certain claims

On November 14, 2022, FE entered into a sales agreement with Infini Resources Pty Ltd. (Infini), an Australian private company for the sale of 234 of the 772 mining claims covering approximately 12,477.20 hectares’ area out of the Augustus Property through cash payments, common shares issuances and exploration expenditures as follows:

(a) Infini make a non-refundable cash payment of AUD$50,000 on signing;

(b) Subject to the satisfaction (or waiver by Infini) of the Conditions Precedent, the Company agrees to irrevocably grant to Infini (or its nominee) an exclusive option to acquire a 50% legal and beneficial interest in the Project (Stage 1 Interest) in consideration for Infini:

(i) making a cash payment of AUD$550,000 to FE within 7 business days of signing this agreement

(c) Subject to Infini (or its nominee) acquiring the Stage 1 Interest, FE agrees to irrevocably grant to Infini (or its nominee) an exclusive option to acquire an additional 25% legal and beneficial interest in the Project (Stage 2 Interest) in consideration for Infini:

(i) making a cash payment of AUD$150,000 18 months from earning the Stage 1 Interest; and

(ii) issuing AUD$150,000 worth of Shares in its capital to FE, based on the 10-day volume weighted average price of Shares, calculated the day before the date of issue of the Shares within 18 months of acquiring the Stage 1 Interest (Stage 2 End Date).

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(d) Subject to Infini (or its nominee) acquiring the Stage 2 Interest, FE agrees to irrevocably grant to Infini (or its nominee) an exclusive option to acquire an additional 25% legal and beneficial interest in the Project (Stage 3 Interest) in consideration for Infini:

(i) making a cash payment of AUD$300,000 upon the first anniversary of earning the Stage 2 Interest

(ii) issuing AUD$300,000 worth of Shares in its capital to FE, based on the 10-day volume weighted average price of Shares, calculated the day before the date of issue of the Shares within 12 months of acquiring the Stage 2 Interest (