Cypress Development acquisition of water rights

Dec 20, 2021

2021-12-17 16:16 ET – Acquisition

 

The TSX Venture Exchange has accepted for filing a water rights purchase and sale agreement dated Sept. 7, 2021, between Cypress Holdings (Nevada) Ltd., a wholly owned subsidiary of the company, and Intor Resources Corp, a wholly owned subsidiary of Nevada Sunrise Gold Corp. (the vendors). Pursuant to the terms of the agreement, the company has completed the purchase of Water Rights Permit 44411 and Certificate 13631, which gives the company access to 1,770 acre-feet of water per year for mining, milling and domestic use.

By way of consideration, the company made cash payments totalling $2.15-million (U.S.) and issued 546,909 common shares of the company at a deemed price of $1.9808 per share at closing.

Please refer to the company’s news releases dated Sept. 8, 2021, and Dec. 8, 2021, for further details.

https://www.cypressdevelopmentcorp.com/

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