1111 Exploration Corp. (CNSX:ELVN) agreed to acquire BQ gold project/ Teako Copper-Gold from Teako Gold Corp. for CAD 1.2 million on January 12, 2023. The transaction will also involve the acquisition of the early stage BQ property. Eleven has agreed to acquire a 100% interest in the Teako Copper-Gold Property and the BQ property by paying CAD 20,000 and issuing a total of 23,000,001 shares of the Company to TGC with the expectation that TGC will subsequently distribute 21,000,0001 of these shares on a pro-rata basis to its shareholders. As negotiated by the parties, a total of 14,750,001 shares will be under an 18 month escrow release, whereby 10% will be released on the closing of the Transaction and then shares will be released on a 15% trickle out basis every 3 months thereafter. A further 2,000,000 shares will be issued to TGC 6 months after the closing of the Transaction. One shareholder of TGC is expected to become a 10% + shareholder of the Company, assuming that TGC distributes 23,000,001 common shares to its shareholders. Robert Ripplinger will become a 10%+ shareholder anticipated to own 5,250,000 common shares of the Company following closing of the Transaction. The Company currently has 23,372,433 shares outstanding and if the Transaction closes as currently outlined the Company will have 46,372,434 shares issued and outstanding. A total of 12,750,001 common shares will be under an 18-month escrow release, with the remainder of common shares subject to a statutory hold period of four months and one day. The Transaction is subject to the entry into a definitive agreement no later than January 30, 2023, The closing of this transaction will take place at close of business February 10, 2023, and receipt of all necessary regulatory approvals including the Company's completion of its filing requirements with the Canadian Securities Exchange and the completion of satisfactory due diligence of the exploration data.

1111 Exploration Corp. (CNSX:ELVN) completed the acquisition of BQ gold project/ Teako Copper-Gold from Teako Gold Corp. on February 10, 2023.