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NOVA ROYALTY COMPLETES ACQUISITION OF ROYALTY ON HUDBAY'S COPPER WORLD AND ROSEMONT COPPER PROJECTS
NOVA ROYALTY COMPLETES ACQUISITION OF ROYALTY ON HUDBAY'S COPPER WORLD AND ROSEMONT COPPE...
About this update from Hudbay Minerals Inc
[{"type":"text","content":"\n \n \n \n NOVA ROYALTY COMPLETES ACQUISITION OF ROYALTY ON HUDBAY'S COPPER WORLD AND ROSEMONT COPPER PROJECTS\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSXV: NOVR\n \n \n \n OTCQB: NOVRF\n \n \n \n \n (All dollar amounts are in\n \n United States\n \n Dollars unless otherwise indicated)\n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 8, 2022\n \n \n /CNW/ -\n \n Nova Royalty Corp.\n \n (\"\n \n Nova\n \n \" or the \"\n \n Company\n \n \") (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that, further to its news release dated\n \n January 10, 2022\n \n , it has completed its acquisition (the \"\n \n Transaction\n \n \") of an existing 0.135% net smelter return (\"\n \n NSR\n \n \") royalty on the Copper World and\n \n Rosemont\n \n copper projects in\n \n Arizona\n \n (the \"\n \n Royalty\n \n \"), owned by Hudbay Minerals Inc. (TSX: HBM) (NYSE: HBM). Nova has also been granted a Right of First Refusal in respect to an additional 0.540% NSR covering the same area as the Royalty.\n \n \n The aggregate purchase price for the Transaction included upfront consideration of\n \n $1.0 million\n \n in cash (\"\n \n Closing Cash Payment\n \n \") and\n \n $0.5 million\n \n in common shares of Nova (\"\n \n Consideration Shares\n \n \"), of which Nova issued 214,610 Consideration Shares at\n \n C$2\n \n .950940‎ per share, calculated based on the twenty-day volume weighted average trading price of the common shares of Nova up to and including\n \n January 7, 2022\n \n .\n \n \n An additional\n \n $4.0 million\n \n in cash will be payable as follows:\n \n \n \n \n $1.0 million\n \n in cash, payable at the earlier of: (i) 12 months after closing of the Transaction; and (ii) Nova completing a single equity financing resulting in aggregate net proceeds to Nova of at least\n \n $10.0 million\n \n \n \n \n \n \n $3.0 million\n \n in cash, payable at the later of: (i) 12 months following the announcement of the commencement of production...