- Val-d’Or Mining Corporation (VZZ) has received all rights, titles and interests in the mineral claims forming Abitibi’s Upper Red Lake property from Gold Royalty Corp
- As payment for the property, Val-d’Or Mining will grant Gold Royalty a 1.0-per-cent net smelter return royalty
- Val-d’Or Mining Corporation is a natural resource issuer involved in the process of acquiring and exploring its mineral property assets
- Val-d’Or Mining Corporation was up 10.00 per cent, trading at $0.11 per share at 12:26 PM ET
Val-d’Or Mining Corporation (VZZ) has signed an agreement with Gold Royalty Corp.
Val-d’Or Mining will receive all rights, titles and interests in and to the mineral claims forming Abitibi’s Upper Red Lake property from Gold Royalty Corp.’s subsidiary, Golden Valley Abitibi Royalties Ltd.
As payment for the property, located in Ontario, Val-d’Or Mining will grant a 1.0-per-cent net smelter return royalty on the property to Gold Royalty.
Gold Royalty holds 28,965,050 shares in the capital of the company, representing 35.1-per-cent of its issued share capital, and accordingly is an insider of the company in accordance with applicable securities legislation.
No cash or equity consideration will be paid for the Abitibi Exploration Portfolio acquired by the company.
The company will pay to Gold Royalty 20 per cent of any future consideration received by it consisting of cash, shares or other securities of any entity from a third party in relation to the Abitibi Exploration Portfolio on or before March 31, 2024.
Val-d’Or Mining Corporation is a natural resource issuer involved in the process of acquiring and exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Québec.
Val-d’Or Mining Corporation (VZZ) was up 10.00 per cent, trading at $0.11 per share at 12:26 PM ET.