Troymet Completes Sale of 1% NSR Royalty on Key Property to New Gold
April 09 2018 - 5:07PM
Troymet Exploration Corp. (TSXV:TYE)
(“
Troymet”
) is
pleased to announce that it has sold half of its 2% net smelter
returns royalty (“
NSR Royalty”) on the Key
Property (for clarity, the non-repurchasable half of the 2% NSR
Royalty was sold) to New Gold Inc. (“
New Gold”)
for a cash payment received today of $300,000 and a potential
future payment of $81,250. The potential future payment will be
made by New Gold to Troymet if a valuation condition in relation to
an-arm’s length third party private company is satisfied within two
years of today’s date (the “
Valuation Condition”).
Troymet continues to own the remaining 1% NSR Royalty on the Key
Property which can be purchased by New Gold for $2,000,000 cash.
Troymet originally sold the Key Property, subject to the NSR
Royalty, to New Gold on December 10, 2013. For further information
on the original transaction, please see Troymet’s news release
dated December 10, 2013 and filed on SEDAR at
www.sedar.com.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.President, CEO &
Director
For further information,
contact:Investor Relations Tel: 250-729-0453Email:
info@troymet.com Website:
www.troymet.com Neither the
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 news
release. This news release contains certain
forward-looking information. All statements included herein, other
than statements of historical fact, are forward-looking information
and such information involves various risks and uncertainties. In
particular, this news release contains forward-looking information
in respect to the potential future $81,250 payment in respect of
the sale of the 1% NSR Royalty to New Gold. There can be no
assurance that such information will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such information. This forward-looking information
reflects Troymet's current beliefs and is based on information
currently available to Troymet and on assumptions Troymet believes
are reasonable. These assumptions include, but are not limited to,
Troymet’s understanding of the potential value of the private
company in respect of the Valuation Condition and the potential for
the junior mining exploration and development industry.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors which may cause the actual results,
level of activity, performance or achievements of Troymet to be
materially different from those expressed or implied by such
forward-looking information. Such risks and other factors may
include, but are not limited to: the early stage development of
Troymet’s projects; general business, economic, competitive,
political and social uncertainties; capital market conditions and
market prices for securities, junior market securities and mining
exploration company securities; commodity prices; the actual
results of current exploration and development or operational
activities; competition; changes in project parameters as plans
continue to be refined; accidents and other risks inherent in the
mining industry; lack of insurance; delay or failure to receive
board or regulatory approvals; changes in legislation, including
environmental legislation, affecting Troymet; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; and lack of qualified, skilled labour or
loss of key individuals. A description of other assumptions used to
develop such forward-looking information and a description of other
risk factors that may cause actual results to differ materially
from forward-looking information may be found in Troymet's
disclosure documents on the SEDAR website at www.sedar.com. Troymet
does not undertake to update any forward-looking information except
in accordance with applicable securities laws.
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