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Battery Mineral Resources Announces Sale of Gowganda Claims to Nord Precious Metals
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2026) - Battery Mineral Resources Corp....
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Announces Sale of Gowganda Claims to Nord Precious MetalsVancouver, British Columbia--(Newsfile Corp. - January 5, 2026) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (\"Battery\" or \"BMR\" or the \"Company\") is pleased to announce that it has entered into a definitive agreement dated January 4, 2026 (the \"Purchase Agreement\") with Nord Precious Metals Mining Inc. (\"Nord\") to sell the Company's 100% interest in the Gowganda silver tailings project mining leases in Ontario, Canada (the \"Transaction\").Laz Nikeas, CEO of Battery, stated, \"We are pleased to enter into this Transaction for our shareholders, providing approximately $6.0 million of value along with a 3.0% NSR Royalty. The Transaction allows us to realize on the value of the silver tailings and includes royalty upside to provide ongoing exposure to the asset. Upon completion of this Transaction, we will become a shareholder of Nord and will continue to support and encourage their efforts.\"Transaction SummaryUnder the Purchase Agreement, Nord has agreed to buy the Company's 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 on the closing date;$1,250,000 in Nord shares on the closing date at a deemed price equal to $0.284 per share;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 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. The closing of the Tran...