Capella Announces Definitive Agreement for the Sale of is Central Norway Copper-Cobalt Projects to NickelX and Financing Update

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[{"type":"text","content":"\n \n \n \n Capella Announces Definitive Agreement for the Sale of is Central Norway Copper-Cobalt Projects to NickelX and Financing Update\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 17, 2023\n \n \n \n /CNW/ -\n \n \n Capella Minerals Ltd\n \n \n (TSXV:\n \n CMIL\n \n ) (OTCQB:\n \n CMILF\n \n ) (FRA:\n \n N7D2\n \n ) (\"\n \n \n Capella\n \n \n \" or the\n \n \n \"Company\n \n \n \") is pleased to announce that it has entered into a binding asset sale agreement (the \"\n \n \n Agreement\n \n \n \") with\n \n NickelX\n \n AS (\"\n \n \n Nickel X\n \n \n \"), a private Norwegian mining company, through which it will divest its interests in the\n \n Hessjøgruva\n \n ,\n \n Kjøli\n \n , and\n \n Løkken\n \n copper-zinc-cobalt projects located in\n \n Trøndelag\n \n Province, central\n \n Norway\n \n (collectively the \"\n \n \n Central Norway Copper Projects\n \n \n \" or the \"\n \n \n Assets\n \n \n \")(the \"\n \n \n Transaction\n \n \n \").\n \n \n \n \n \n \n \n \n \n \n NickelX currently holds 100% interests in 4 nickel exploration projects in northern\n \n Norway\n \n (namely Hamn, Palfjellet, Birgivi, and Envold), and is in the process of undertaking an Initial Public Offering (\"IPO\") with the combined Assets on\n \n Oslo's\n \n Euronext Growth Exchange with the objective of becoming\n \n Norway's\n \n leading independent battery metals company.\n \n \n The total consideration of the Transaction to Capella, payable upon completion of the NickelX IPO, is CAD\n \n $7 million\n \n via a combination of cash and NickelX shares.\n \n \n \n Eric Roth\n \n , President and Chief Executive Office of Capella said: \"\n \n Capella is pleased to have reached this agreement with NickelX providing for the creation of a premier Norwegian battery metals company. Combining our Central Norway Copper Projects with NickelX's exploration properties and then listing on the Oslo Euronext Exchange will ensure that our projects are benefited through access to local capital and sta...

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