Nevada Zinc Completes Sale of Nevada Mineral Claims
TORONTO, June 25, 2025 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation ('Nevada Zinc' or the 'Company') (TSX-V: NZN) is pleased to announce that, further to the its news release dated July 24, 2024, the Company has completed the sale of its interest (the 'Transaction') in its mineral claims located in Eureka County, Nevada (the 'Property') to Minaurum Gold Corp ('Minaurum') pursuant to the sale and option agreement dated July 24, 2024 (the 'Agreement'), as amended.
The Property is made up of 203 mineral claims located in Eureka County, Nevada which are comprised of:
(i) 1 patented claim (the 'Patented Claim') and 26 unpatented lode claims, all of which are 100% legally and beneficially owned by the Company's wholly owned subsidiary, Lone Mountain Zinc Ltd. (collectively, the 'Owned Claims'); and (ii) 176 unpatented lode claims (the 'Leased Claims') held by the Company through a long-term lease agreement (the 'Lease').Pursuant to the terms of the Agreement, the Company granted Minaurum an exclusive option (the 'Option') to acquire: (i) 100% of the Company's right, title and interest in and to the Owned Claims; and (ii) 100% of the Company's rights and interests in and to the Lease in respect of the Leased Claims. Minaurum exercised the Option by issuing to the Company 3,846,893 common shares in the capital of Minaurum (the 'Consideration Shares') having an aggregate value of $1,000,000 and paying to the Company a cash fee in the amount of $100,000. The Consideration Shares are subject to: (i) a four-month and one day statutory hold period in accordance with applicable securities laws; and (ii) a contractual restriction on transfer, pursuant to which the Company may not sell more than 500,000 Consideration Shares per week following expiry of the statutory hold period.
The grant of the Option was approved by the Company's shareholders at a special meeting of the Company's shareholders on February 7, 2025. Further information regarding the Transaction is contained in the information circular of the Company dated December 23, 2024 available under the Company's SEDAR+ profile at www.sedarplus.ca.
Following the closing of the Transaction, the Company will not meet the Tier 2 Continued Listing Requirements of the TSX Venture Exchange. Accordingly, the shares of the Company will be transferred to the NEX Board of the Exchange upon closing of the Transaction.The Company also announces that on June 30, 2023, the Company was advanced a secured loan (the 'Loan') by one of the Company's directors, Jim Beqaj, in the amount of $173,321.07. The proceeds of the Loan were used to make the annual 2023 rental payment pursuant to the Lease, to pay the Company's auditors and for exchange listing fees.
The loan bears interest of 10.0% per annum and had a maturity date of December 31, 2023. Upon the maturity date of the Loan, the Company and the lender entered into a verbal agreement to extend the maturity of the Loan until such time as the Company is in a position to repay the Loan and entered into an amending agreement dated June 13, 2025 formalizing the extension of the maturity date. Pursuant to the Loan, the Company granted the lender a security interest in the Patented Claim, which the lender agreed to relinquish in connection with the Transaction. The TSX Venture Exchange approved the Loan and the extension.
Mr. Beqaj is a director of the Company and a 'related party' to the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). As such, the Loan is considered a 'related party transaction' under MI 61-101. The Company is relying on exemptions from the formal valuation requirements of section 5.4 of MI 61-101 and minority shareholder approval requirements of section 5.6 of MI 61-101. As the fair market value of the related party's participation was not more than 25% of the Company's market capitalization, the related party transaction is exempt from the formal valuation requirements pursuant to subsection 5.5(a) of MI 61-101 and from the minority approval requirements pursuant to subsection 5.7(1)(a) of MI 61-101.
About Nevada Zinc
The Company is exploring strategic alternatives for enhancing shareholder value.
Additional information about the Company is available on the Company's SEDAR+ profile at www.sedarplus.ca.
For further information please contact:
Mike Wilson, President & CEOT: (416) 574-9075Email: wilson.h.mike@gmail.com
Don Christie, CFOT: (416) 409-8441Email: don@nevadazinc.com
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding the timing and terms of agreements, regulatory approvals, shareholder approvals, obligations under existing and future agreements, expected share issuances and ownership positions, expected returns and profits from application of unproven chemical processes to the Company's mineral projects, partnerships and joint ventures, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results relating to, among other things, completion of proposed transactions, regulatory approvals, expected proceeds from transactions, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this news release.Sign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
SIMPLY SOLVENTLESS ANNOUNCES RECORD "STATUS" BRAND MONTHLY SALES & REVOCATION OF MANAGEMENT CEASE TRADE ORDER
Not for distribution to U.S. news wire services or for dissemination in the United States. CALGARY, AB, June 26, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC" or the "Company") is pleased to announce that its Status brand has achieved record monthly sales and increasing sales velocity. SSC is also pleased to advise that due to SSC filing its Q1 2025 financial statements, the related management discussion and analysis, and the related CEO and CFO certifications, (the "Filings"), the previously announced management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") initially issued by the Alberta Securities Commission ("ASC"), the Company's principal regulator, on May 5, 2025, and subsequently updated by SSC through press releases issued on April 30, 2025, May 14, 2025, May 20, 2025, and June 2, 2025, has been revoked. Copies of the required Filings are available on the Company's SEDAR+ profile at Status Brand Launched in late 2024, SSC's Status brand, acquired as part of the ANC Inc. acquisition in October, 2024, continues to gain traction across Canada. Unit sales have increased by 115% since January 2025, and June 2025 marked the first month that the Status brand's sales exceeded $1.0 million. Status currently has 12 total product listings in Ontario and Alberta. The following 8 new product listings are launching in the coming months, bringing total Status product listings to 20: Ontario June: Bubble Bubble Liquid Diamond Infused Kief Coated Blunt. Alberta July: Grape Blast Liquid Diamond Infused Kief Coated Pre-Rolls. Alberta July: Mellonaire Liquid Diamond Infused Kief Coated Pre-Rolls. Alberta July: Tigers Bleed Liquid Diamond Infused Kief Coated Pre-Rolls. Ontario August/September: Lamborkiwi Cannagar. Ontario August/September: Bubble Bubble Cannagar. Ontario September/October: Lamborkiwi Liquid Diamond Disposable. Ontario September/October: Grape Blast Liquid Diamond Infused Kief Coated Blunt. With the success of Status, SSC's current suite of brands and products, including Astrolab, Frootyhooty, Roilty, and Lamplighter, and the upcoming launch of the legendary Sluggers brand in Canada (as previously announced), SSC is encouraged by the potential for organic revenue growth in the coming quarters. About Simply Solventless Concentrates Ltd. SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see Notice on Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning Stats brand product launches, increasing velocity of Status SKUs, initial Sluggers product launches and revenue growth, and revenue growth of SSC's current brands and products. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at including its most recent annual information form. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Simply Solventless Concentrates Ltd. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Trump's tariff war: Canada expected to keep NAFTA 2.0 'carve-out' in new U.S. trade deal
A new Canada-U.S. trade deal will likely carry forward the Canada-United States-Mexico Agreement (CUSMA) tariff exemptions shielding most Canadian exports from American tariffs today, says Deloitte Canada chief economist Dawn Desjardins. She's optimistic that Canada can avoid the economic hit that may be in store for other U.S. trading partners. U.S. President Donald Trump has set July 9 as the deadline for countries to ink a trade deal in order to avoid his 'Liberation Day' tariffs, many of which are higher than the baseline 10 per cent levy the White House has applied to most countries. For Canada, Prime Minister Mark Carney and Trump agreed on the sidelines of the recent G7 meeting in Alberta to strike a deal by July 21. 'Our baseline view assumes that at a minimum, we continue to operate with our CUSMA carve-outs. Meaning, the vast majority of Canadian goods that we sell into the U.S. will continue to be tariff-free,' Desjardins told Yahoo Finance Canada in an interview earlier this week. 'The sounds we're hearing seem to be moving in the right direction. Obviously, [I have] no inside information. It's just an assumption that we will not be severely hit by 25 per cent tariffs across the board.' While Trump has ramped up tariffs on Canadian steel and aluminum, as well as the auto sector, economists say Canada achieved the lowest U.S. tariff rate among major trade partners when CUSMA-compliant goods were exempted on April 2. On Wednesday, RBC Economics estimated that roughly 86 per cent of Canadian exports should ultimately be able to access the U.S. market duty free under current trade rules. RBC expects the share of CUSMA-compliant trade to rise rapidly from 50 per cent in March. Trump signed CUSMA, also known as United States-Mexico-Canada Agreement, into U.S. law on Jan. 29, 2020. The deal was dubbed 'NAFTA 2.0' or 'New NAFTA,' as it replaced the North American Free Trade Agreement implemented in 1994. 'I'm a little surprised that we were already front and centre in terms of the initial tariffs being applied to Canada, given that we have that trade agreement,' Desjardins said. 'The element of trust that we have with our biggest trading partner has been quite damaged by this.' Deloitte Canada's latest economic forecast, published on Wednesday, calls for that damage to result in a 'modest recession' in the second and third quarters of the year. Ontario and Quebec are due to be hardest hit, given their weight in the manufacturing sector. Statistics Canada's latest GDP reading shows the economy grew at an annual rate of 2.2 per cent in the first quarter. Earlier this month, the Bank of Canada warned the economy will be "substantially weaker" in the second quarter of 2025, versus the start of the year as the full impact of U.S. import tariffs hits Canadian businesses. Deloitte sees Canada's real GDP growth rising 1.1 per cent in 2025, before accelerating to 1.6 per cent in 2026. 'As we move forward, and we have more clarity, whatever clarity looks like, but more clarity on our relationship with the U.S., and how the [Canadian] government is actually going to get into action, these are going to be the things that lift us as we go into 2026,' Desjardins said. Canadians will have to wait until the federal government's fall budget for more details on Carney's plans to spend billions on building housing inventory, advancing infrastructure projects, and investing in Canada's military. 'There's a lot in the hopper,' Desjardins added. 'There are just so many underlying factors at this stage that could have either a temporary or short-term impact, or be more persistent.' Deloitte Canada's optimistic take on rebuilding Canada-U.S. trade links comes on the heels of a similar analysis by the Canadian arm of fellow accounting giant PricewaterhouseCoopers (PwC) released last week. 'Canada is maybe in the best position of any other country,' Michael Dobner, PwC Canada's national leader of economics and policy practice, told Yahoo Finance Canada last Tuesday. 'The negotiation between Canada and the U.S. may further cement Canada's position over other countries as an exporter to the U.S.' Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Bitdeer Raises $330M Via Convertible Note Sale
Bitcoin miner and ASIC manufacturer Bitdeer Technologies (BTDR) has completed a $330 million private placement of convertible senior notes maturing July 1, 2031. The notes bear interest at 4.875% and feature a conversion price of $15.87 per share — about 44% above BTDR's current $11 trading price. The bond's conversion rate of 62.9921 Class A shares per $1,000 principal means full conversion could yield roughly 20.8 million new shares. To cover this, Bitdeer prepaid Barclays $129.6 million for a call option with a zero strike price on over 10.2 million shares, or 49% of the conversion total. The option allows Bitdeer to settle conversions using shares from Barclays' inventory rather than tying up its own stock. Bitdeer, is using roughly $129.6 million of the proceeds to fund the zero-strike call option, $36.1 million to pay the cash consideration for its concurrent note exchange transactions, and the remaining funds for datacenter expansion, the development of its ASIC manufacturing and working capital. The company is currently working on new ASIC chip designs that could potentially make its mining rigs substantially more efficient than current models. Shares are marginally lower in Wednesday trade. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
