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Battery Mineral Resources Announces Closing of Sale of Gowganda Claims to Nord Precious Metals
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2026) - Battery Mineral Resources Corp. ...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Announces Closing of Sale of Gowganda Claims to Nord Precious MetalsVancouver, British Columbia--(Newsfile Corp. - March 31, 2026) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (\"Battery\" or \"BMR\" or the \"Company\") is pleased to announce that it has closed its previously announced sale (the \"Transaction\") of the Company's 100% indirect interest in four mining leases within the historic Gowganda mining camp of Northern Ontario including the silver tailings project to Nord Precious Metals Mining Inc. (\"Nord\").Transaction SummaryThe Transaction was completed by way of amended and restated definitive agreement dated March 31, 2026 (the \"Definitive Agreement\"). Nord has acquired from Battery's wholly owned subsidiary, North American Cobalt Inc., four mining leases (LEA-109391 – LEA109394) comprising the Gowganda silver tailings project on an \"as-is where-is\" basis for the following consideration:$1,000,000 cash;4,401,408 Nord shares at a deemed price equal to $0.284 per share for aggregate consideration of $1,250,000;a 3.0% net smelter returns royalty on the Gowganda silver tailings project; anddeferred consideration of $1,250,000 on each of the first, second and third anniversaries of the closing date of the Transaction (the \"Deferred Consideration\") for aggregate Deferred Consideration of $3,750,000.At the election of Nord, up to 50% of each Deferred Consideration may be satisfied in Nord common shares, up to an aggregate maximum of 10,938,610 common shares, at a deemed price per share equal to the greater of: (i) the 25-day volume-weighted average trading price per Nord common share on the TSX Venture Exchange (the \"TSXV\") ending on the last trading day preceding the applicable payment date, and (ii) the minimum price permitted by the TSXV. The Nord common shares to be received by the Company will be subject to a statutory hold period of four months and one day from the date of issuance.The Transaction is an arms-length transaction for the Company, and no finder fees are payable in connection with the Transaction. Completion of the transaction remains subject to receipt of final approval of the TSXV.About Battery Mineral Resources Corp.Battery is operating the Punitaqui Mining Complex, a historic copper, gold, and silver producing mine in the Coquimbo region of Chil...