Business
Hayasa Metals Announces Sale of 1.25% NSR over Urasar Mineral District, Armenia for US$1M
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Hayasa Metals Inc. (TSXV: HAY) ...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"Hayasa Metals Announces Sale of 1.25% NSR over Urasar Mineral District, Armenia for US$1MVancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) (\"Hayasa\" or the \"Company\") is pleased to announce the sale of a 1.25% Net Smelter Return (\"NSR\") royalty covering all minerals produced from the Urasar gold-copper project in northern Armenia to Franco-Nevada Corporation (\"Franco-Nevada\") and EMX Royalty Corporation (\"EMX\"), for US$1,000,000 cash.Commercial TermsFranco-Nevada and EMX will pay the Company a combined US$1 million with Franco-Nevada contributing US$550,000 and EMX contributing US$450,000 in accordance with the terms of a Joint Acquisition Agreement signed between the two companies in August 2023. Each company will retain a 0.625% NSR royalty interest. The royalty acquisition at Urasar represents the first co-investment between Franco-Nevada and EMX pursuant to their Joint Acquisition Agreement. Additionally, each company will be issued 250,000 share purchase warrants, which can be exercised on a one-for-one basis for common shares of Hayasa within 18 months following issuance at an exercise price of CAD 0.22, subject to approval by the exchange.As part of the transaction, Franco and EMX will have a right of first refusal in respect of any future royalty, stream or similar interest on Urasar. Chairman Dennis Moore comments\"We are very pleased to make this non-dilutive royalty sale to two of the best-known royalty companies in the mining world. This deal has been attained after months of negotiations between the parties and was finalized at the end of 2024. The funds will enable the Company to enhance its ongoing exploration program at Urasar including an expanded drill program being planned for the 2025 field season, and assist with the acquisition of additional nearby ground.\"CEO Joel Sutherland added:\"The combination of Franco-Nevada and EMX as partners in the Urasar project is a big win for Hayasa. The non-dilutive capital of the royalty sale will materially help Hayasa management in its mission to daylight value for shareholders through 2025 and beyond.\"Urasar Gold-Copper DistrictThe Urasar gold-copper project was acquired by Hayasa in 2023 by direct acquisition of an exploration permit from the Armenian government following an assessment of the Teth...