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Mjövattnet and Njuggsträskliden Nickel, Copper and Cobalt Projects Acquisition Completed
Mjövattnet and Njuggsträskliden Nickel, Copper and Cobalt Projects Acquisition C...
About this update from Domestic Metals Corp.
[{"type":"text","content":"\n\n\n\nMjövattnet and Njuggsträskliden Nickel, Copper and Cobalt Projects Acquisition Completed\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 18, 2018\n\n\n\nVANCOUVER, May 18, 2018 /CNW/ - Boreal Metals Corp. (\"Boreal\" or the \"Company\") (TSXV:BMX) is pleased to announce the completion of the acquisition of the Mjövattnet and Njuggträskliden nickel, copper, and cobalt projects (the \"Projects\") from EMX Royalty Corporation (\"EMX\") (NYSE American: EMX, TSXV: EMX).  Pursuant to the terms of the purchase and sale, Boreal has issued to EMX 2,020,202 common shares of Boreal Energy Metals Corp. (\"BEMC\"), a subsidiary of Boreal.  This acquisition brings EMX's equity ownership in BEMC to 9.9%.  EMX will have the right to maintain its 9.9% interest, at no additional cost to EMX, until BEMC has raised CDN$3,000,000 in equity.  Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 9.9% interest in BEMC.  The TSX Venture Exchange has approved the transfer of the Mjövattnet and Njuggträskliden exploration licences from EMX to BEMC, subject to customary final filings.\n\n\"Boreal is continuing to build its excellent foundation of base and energy metals exploration projects in Scandinavia,\" stated Karl Antonius, President and CEO.  \"The acquisition of Mjövattnet and Njuggträskliden deliver significant benefits to Boreal's shareholders and partners.  Both projects have excellent upside potential for additional discoveries of nickel, copper and cobalt, as well as, PGE and gold.  There are clear next steps in terms of exploration plans, and these nickel-rich projects provide nice compliments to the cobalt-rich Modum and Guldgruvan projects in Boreal's portfolio.\"\n\nMjövattnet and Njuggträskliden Highlights\n\nThe 9,000 hectare Njuggsträskliden and 6,400 hectare Mjövattnet licenses cover multiple drill defined zones of nickel-rich sulfide mineralization.  The Projects were recogn...