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Nexcel Earns Initial 29.58% Interest in the Burnt Hill Tungsten Project
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2025) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that, further to its news release dated October 8, 2025, the Company has earned an initial 29.58% interest ("Property Interest") in and to the Burnt Hill Tungsten Project (the "Burnt Hill Project") located in New Brunswick, Canada (the "Burnt Hill Project") pursuant to its option agreement dated October 3, 2025 (the...
About this update from Nexcel Metals Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 12, 2025) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that, further to its news release dated October 8, 2025, the Company has earned an initial 29.58% interest ("Property Interest") in and to the Burnt Hill Tungsten Project (the "Burnt Hill Project") located in New Brunswick, Canada (the "Burnt Hill Project") pursuant to its option agreement dated October 3, 2025 (the "Option Agreement") with the arm's length parties, Cadillac Ventures Inc., currently holding a 28.42% Property Interest (the "Optionor"), and the owner of the remaining 42% Property Interest (the "Minority Owner").","length":793,"tagName":"p"},{"type":"text","content":"The Company earned the initial 29.58% Property Interest from the Optionor in consideration for the payment of an aggregate of $170,000 in cash and the issuance of $330,000 (less the costs of the summer work program at the Burnt Hill Project totalling $52,495) in common shares of the Company ("Common Shares") to the Optionor, which was satisfied by the issuance of 355,775 Common Shares at a deemed price of $0.78 per Common Share.","length":442,"tagName":"p"},{"type":"text","content":"The Company may earn up to an additional 28.42% Property Interest (for a total 58% Property Interest) from the Optionor in consideration for the payment of an aggregate $250,000 in cash and the issuance of an aggregate of $600,000 in common shares of the Company ("Common Shares") to the Optionor in accordance with the terms of the Option Agreement. Upon the Company earning at least a 51% Property Interest, a joint venture will be formed among the Company, the Optionor and the Minority Owner.","length":506,"tagName":"p"},{"type":"text","content":"In consideration for the assignment to the Company of the options underlying the Option Agreement, the Company issued 1,000,000 Common Shares to Northex Capital Partners Inc. ("Northex"), an arm's length party, pursuant to the amendment and assignment agreement dated August 1, 2025, among the Company, the Optionor and Northex.","length":342,"tagName":"p"},{"type":"text","content":"The 355,775 Common Shares issued to the Optionor and the 1,000,...