Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 13

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 13
---
 intention to grant to Lidya an option ("Option") to acquire an 80% interest in the Karaburun project. The Option was subject to the negotiation and execution of a definitive agreement for the Option contemplated to be signed within 120 days from the signing of the LOI. The LOI provided that the Option period shall be 24 months from the date of signing the definitive agreement, and that upon signing the LOI Lidya shall make a cash payment to Gentor for US$50,000.

In May 2016, Gentor announced that its proposed joint venture with Lidya to further explore and develop the Karaburun project would not be proceeding, following notification from Lidya that Lidya decided to not pursue the proposed joint venture.

In September 2016, Gentor announced that Dr. Ruxton has resigned from the board of directors of the Company.

In September 2017, the Company consolidated its outstanding common shares on an eight to one basis.

In November 2017, the Company closed a non-brokered private placement of 10,000,000 units of the Company at a price of Cdn$0.05 per unit for total gross proceeds of Cdn$500,000. Each such unit consisted of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.075 for a period of two years. Directors and officers of the Company purchased 2,500,000 of the units issued under the financing.

Also in November 2017, the Company announced that it intended to dispose of, for nominal consideration, its subsidiary which held the Karaburun project in Turkey (this was the Company's only project). The Company relinquished the Karaburun project and discontinued operations in Turkey effective at the end of 2017, and is currently evaluating new business opportunities.

-10-

In June 2018, the Company closed a non-brokered private placement of 8,000,000 common shares of the Company at a price of Cdn$0.05 per share for total gross proceeds of Cdn$400,000. Mr. Arnold T. Kondrat (who is Chief Executive Officer, President and a director of the Company) purchased all of the shares issued under this financing.

In October 2018, the Company effected an increase in the authorized share capital of the Company by changing the authorized