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Orogen Royalties Signs LOI to Option Table Mountain Gold Project to Toogood Gold
VANCOUVER, BC / ACCESS Newswire / March 2, 2026 /(TSX.V:OGN)(OTCQB:OGNNF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that the Company and a wholly owned subsidiary of alliance partner Altius Minerals Ltd. ("Altius") (collectively ...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / March 2, 2026 / (TSX.V:OGN)(OTCQB:OGNNF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that the Company and a wholly owned subsidiary of alliance partner Altius Minerals Ltd. ("Altius") (collectively the "Alliance Partners") have signed a binding Letter of Intent Agreement (the "LOI") with Toogood Gold (TGC) ("Toogood") to option the Table Mountain gold project ("Table Mountain") in Nevada.","length":524,"tagName":"p"},{"type":"text","content":"Under the terms of the LOI, Toogood will have an exclusive 45-day period to conduct due diligence and execute a definitive option agreement (the "Option Agreement") whereby Toogood can acquire a 100% interest in Table Mountain by issuing 16,683,430 Toogood shares to the Alliance Partners as follows:","length":310,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"1,000,000 shares within three days of signing the definitive agreement (the "Effective Date");","length":104,"tagName":"p"}]},{"val":[{"type":"text","content":"3,500,000 shares within six months of the Effective Date;","length":57,"tagName":"p"}]},{"val":[{"type":"text","content":"5,500,000 shares within one year of the Effective Date; and","length":59,"tagName":"p"}]},{"val":[{"type":"text","content":"6,683,430 shares within two years of the Effective Date.","length":56,"tagName":"p"}]}],"tagName":"ol","bulletedList":false,"length":276},{"type":"text","content":"Based on the market price of Toogood's shares as of February 27, 2026, the aggregate market value of the share consideration is $2.25 million.","length":146,"tagName":"p"},{"type":"text","content":"Upon completion of the Option Agreement, Toogood will grant a 3% net smelter return ("NSR") royalty to the Alliance Partners subject to the following buydown provisions:","length":179,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"0.5% NSR royalty buydown for US$5.0 million up to the fourth anniversary of the exercise of the Option Agreement; and","length":117,"tagName":"p"}]},{"val":[{"type":"text","content":"0.5% NSR royalty buydown for US$15 million for up to 120 days after the completion of a National Instrument 43-101 Prefeasibility Study.","length":136,"tagName"...