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Yahoo
12 hours ago
- Business
- Yahoo
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 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 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 For further information please contact: Mike Wilson, President & CEOT: (416) 574-9075Email: Don Christie, CFOT: (416) 409-8441Email: don@ 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 in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
MINAURUM GOLD INC. ANNOUNCES C$5.0M BEST EFFORTS PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/ VANCOUVER, BC, June 23, 2025 /CNW/ - Minaurum Gold Inc. ("Minaurum" or the "Company") (TSXV: MGG) (OTCQX: MMRGF) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. ("Cormark"), on behalf of itself and on behalf of a syndicate investment dealers, (collectively, the "Agents") pursuant to which Cormark has agreed to act as lead agent for and on behalf of Minaurum in connection with a "best efforts" private placement for aggregate gross proceeds of up to approximately C$5 million (the "Offering"). The Offering will consist of the issuance and sale of 20,000,000 units of the Company (the "Units") at a price of C$0.25 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.37 on the date that is 24 months following the Closing Date (as defined below). The Company has granted the Agents an option, exercisable in whole or in part, at any time prior to Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$750,000. The Company intends to use net proceeds from the Offering for exploration expenditures on the Company's Alamos silver project, property maintenance and permitting costs and for general working capital purposes. The Company is conducting a listed issuer financing pursuant to Section Part 5A.2 of National Instrument 45-106 Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). to purchasers in Canada (other than the province of Quebec). The Agents will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Units issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period in Canada. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This news release does not constitute an offer to acquire securities in any jurisdiction. There is an offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at and the Company's website at Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this offering document before making an investment decision. The Offering is expected to close on or about July 3, 2025, or on such other date as may be agreed to by the Company and the Agents, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day following the date of this news release. The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the TSX Venture Exchange. Follow us and stay updated: YouTube: @minaurumgoldLinkedIn: to our email list at Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is an Americas-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora, Mexico and a portfolio of district-scale projects in Mexico. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier-One precious-and base metal projects. ON BEHALF OF THE BOARD "Darrell A. Rader" Darrell A. RaderPresident and CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the anticipated timing of closing of the Offering or at all; the anticipated terms of the Units and the Warrants; the anticipated use of the net proceeds of the Offering; and the anticipated receipt of all necessary approvals in respect of the Offering are forward-looking statements and contain forward-looking information. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum including, among other things, that the Offering will close on the anticipated timeline or at all; that the Units and the Warrants will have the anticipated terms; that the Company will use the net proceeds of the Offering as anticipated; and that the Company will receive all necessary approvals in respect of the Offering. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. SOURCE Minaurum Gold Inc. View original content: 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
