- Tintina Mines Limited (TTS) has entered into a royalty repurchase agreement with Canadian Malartic GP
- The agreement will see CMGP exercise its Buy-Out Option to repurchase the 2 per cent Net Smelter Return Royalty held by the Tintina
- The Buy-Out Option is worth a total purchase price of US$7,000,000
- The Royalty Agreement was assigned to Tintina by NSR Resources Inc. on April 7, 2020
- Tintina Mines Ltd closed the day’s trading at $0.065 with a gain of 44.444 per cent
Tintina Mines Limited (TTS) has entered into a royalty repurchase agreement with Canadian Malartic GP.
The agreement will see CMGP exercise its Buy-Out Option to repurchase the 2 per cent Net Smelter Return Royalty held by the Tintina over the Rand property. The Buy-Out Option is worth a total purchase price of US$7,000,000.
The agreement has an effective date of March 17, 2022.
The exercise of the Buy-Out Option by CMGP is also subject to the terms and conditions of an existing Net Smelter Royalty Agreement between Tinitina and CMGP.
The Royalty Agreement was assigned to Tintina by NSR Resources Inc. on April 7, 2020.
NSR became a wholly-owned subsidiary via a three-cornered amalgamation transaction completed on November 28, 2019, and submitted an application to cease to be a reporting issuer in Quebec, Alberta, British Columbia and Ontario.
By January 6, 2020, NSR ceased to be a reporting issuer in the above-named provinces which are the reporting jurisdictions.
Tintina Mines Ltd (TTS) closed the day’s trading at $0.065 with a gain of 44.444 per cent.