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Troymet Completes Sale of 1% NSR Royalty on Key Property to New Gold
NANAIMO, British Columbia, April 09, 2018 (GLOBE NEWSWIRE) -- Troymet Exploration Corp. (TSXV:TYE) (“Troymet”) is pleased to announce that it has sold half of i
About this update from Bessor Minerals Inc.
[{"type":"text","content":" NANAIMO, British Columbia, April 09, 2018 (GLOBE NEWSWIRE) -- 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: [email protected] 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 ...