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Sorrento Resources Acquires Additional Rodgers Cove Claims, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2025) - Sorrento Resources Ltd. (CSE: SRS ) (OTCQB: SRSLF) (the "Company" or "Sorrento") a Canadian exploration company focused on the acquisition, exploration, and development of mineral projects in Atlantic Canada, is pleased to announce that it has entered into a mineral property purchase agreement dated August 26, 2025 (the "Agreement") whereby the Company may acquire a 100% undivided interest in the seven minerals licenses (the...
About this update from Sorrento Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - August 28, 2025) - Sorrento Resources Ltd. (CSE: SRS ) (OTCQB: SRSLF) (the "Company" or "Sorrento") a Canadian exploration company focused on the acquisition, exploration, and development of mineral projects in Atlantic Canada, is pleased to announce that it has entered into a mineral property purchase agreement dated August 26, 2025 (the "Agreement") whereby the Company may acquire a 100% undivided interest in the seven minerals licenses (the "Additional Claims"), adding to its newly acquired Rodgers Cove Project (see news releases dated June 4 and June 24, 2025) (collectively, the "Project") located in the province of Newfoundland and Labrador (the "Transaction").","length":781,"tagName":"p"},{"type":"text","content":"Pursuant to the Agreement, the Company has agreed to acquire the Additional Claims in consideration of (i) the payment $5,000 in cash, (ii) the issuance of 150,000 common shares of the Company and (iii) the grant of a 2% net smelter returns royalty on the Additional Claims, of which the Company may purchase 1.5% for a total of $1,000,000.","length":340,"tagName":"p"},{"type":"text","content":"The vendor of the licenses forming the Additional Claims deal with the Company at arm's length. Closing of the Transaction remains subject to, without limitation, receiving all necessary consents and approvals, as well as the satisfaction of customary closing conditions. No finder's fees are payable in connection with the Transaction. All securities issued pursuant to the transaction will be subject to a statutory hold period of four months and one day from issuance.","length":479,"tagName":"p"},{"type":"text","content":"The Additional Claims consists of 7 individual mineral licenses made up of 52 individual claims for an area of approximately 1,300ha. The combined Project now consists of 11 individual mineral licenses made up of 151 individual claims for an area of approximately 3,775ha.","length":272,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","className":"","disableSlideshowImg":false,"size":{"original":{"width":550,"height":733,"url":"https://media.zenfs.com/en/newsfile_64/9a9f649adcb16890bc594aea3ff5f18b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4InhaXgs...