Reno, NV, May 27, 2020 (GLOBE NEWSWIRE) -- Reno, Nevada, May 27, 2020 -- Dakota Territory Resource Corp (OTCQB:DTRC) ("Dakota Territory" or the "Company"), is pleased to announce that the Company has entered into a financing arrangement with JR Resources Corp. ("JR"). Subject to the negotiation of milestone deliverables to be mutually agreed upon, JR shall have the right on or prior to October 15, 2020 to invest up to $21,385,000 in Dakota Territory through the purchase of common shares at $0.15 per share, in one or more closings. If, and upon, the full execution by JR of the funding strategy, JR would own approximately 64.24% of the Company.Dakota Territory Resource Corp was born in 2012 out of our management's unique mining and exploration experience with Homestake Mining Company in the Black Hills of South Dakota and the Company's acquisition of key property that Homestake Mining Company had previously explored in the District. Faced with eight years of low gold prices and difficult capital markets, Dakota Territory management patiently waited for improving conditions that we believed were necessary to the advancement of our assets. Through that period, the Company has endeavored to avoid dilutive financing for exploration, preferring instead to build on its strategic land position in the District.In anticipation of increased demand for North American gold projects, Dakota Territory set out in late 2018 to pursue a strategy of matching the Company's technical strengths with potential partners possessing the business strengths and access to capital markets needed to fund the exploration and planned development of Company assets. Dakota Territory has since been engaged in the process of screening and conducting due diligence investigations with companies we ...Full story available on Benzinga.com
