- Comstock Metals (CSL) has completed the sale of its Preview SW Gold Project and accompanying property
- The Vancouver-based mineral exploration company is selling a 100-percent interest in the property to MAS Gold
- The 843-hectare Preview SW Property is contiguous with MAS Gold’s Preview-North Property in the La Ronge Gold Belt of northeastern Saskatchewan
- The all-stock deal is worth approximately $3 million
- Comstock Metals unchanged, trading at $0.095 at 2:43 p.m. ET
Comstock Metals (CSL) has completed the sale of its Preview SW Gold Project and accompanying property.
The Vancouver-based mineral exploration company is selling a 100-percent interest in the property to MAS Gold.
The 843-hectare Preview SW Property is contiguous with MAS Gold’s Preview-North Property in the La Ronge Gold Belt of northeastern Saskatchewan.
The all-stock deal is worth approximately $3 million.
Red Cloud Klondike Strike served as an advisor to the transaction and was paid an advisory fee of $135,000.
Comstock’s CEO is also entitled to receive a three-percent bonus based on the transaction’s value.
Comstock has now sold all or substantially all of its assets. While Comstock explores available opportunities, there is a risk the company will not be able to meet the continued listing requirements of the TSX Venture Exchange and may be required to be moved to the NEX market of the TSX Venture Exchange.
Options include potentially distributing some or all of its shares to shareholders.
Comstock Metals unchanged, trading at $0.095 at 2:43 p.m. ET.