Noble Mineral royalty agreements

Jan 9, 2020

2020-01-08 18:08 ET – Property Agreement

The TSX Venture Exchange has accepted for filing documentation pertaining to the acquisition of a 5-per-cent net smelter return (NSR) royalty on Project 81 from Resolute FP Canada Inc., and the concurrent settlement of the termination of a right to purchase up to 45 per cent of the NSR and a right of first refusal to acquire the NSR with Franco-Nevada Corp., pursuant to the specific terms contained within royalty assignment agreement between the company and the Resolute, dated Oct. 21, 2019, and letter agreement and royalty agreement between the company and the Franco-Nevada, dated Nov. 22, 2019.

According to the terms of the agreements, Resolute received an aggregate of $2-million in cash payable for the transfer of the NSR to the company, which will be subsequently discharged from the registered title to those patented properties of Project 81 to which the NSR applies. The Franco-Nevada will receive the following consideration for the termination of the rights: (i) grant of the 2-per-cent net smelter return royalty on Project 81; (ii) assignment of net smelter return royalty on block B properties; and (iii) issuance of 5,889,281 common shares of the company at price of 8.49 cents per share.

For more information, please refer to the company’s news releases dated Oct. 24, 2019, and Nov. 28, 2019.

http://www.noblemineralexploration.com/s/Home.asp