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Solstice Gold Provides Update on Royalty and Property Portfolio
VANCOUVER, British Columbia, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to provide
About this update from Solstice Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to provide an update on the Company’s royalty and property portfolio with assets located in Ontario and Quebec. The portfolio was acquired in October 2021 as part of the Company’s strategy of value creation for shareholders, to decrease the Company’s financial risk and to potentially generate funding for our exploration activities at our core properties. The potential undiscounted cash inflows from option payments could result in up to approximately $2.0 million over the next 22 months and may partially offset certain corporate costs over that timeframe. In addition, the Company added the 13.6 km2 Pringle South property which increases our Red Lake Extension (RLX) land position and extends the theatre of our exploration further to the northwest. Mike Timmins, Solstice CEO stated, “Our extensive, cash generating gold and battery metal portfolio has continued to deliver value to Solstice shareholders as we’ve harvested approximately $2.3 million of cash and share payments since its acquisition and added three new stand-alone exploration stage royalties bringing our total number of royalties held to 11. In addition, expected future cash inflows of over $2 million from the portfolio further highlight the upside of this acquisition. The company continues to work on plans to generate additional value by the potential monetization of certain larger asset packages. Finally, we’ve reacquired Pringle South which expands to our 100% owned Red Lake property and adds 4.6 km of favourable structure to explore.” Portfolio Highlights Since the acquisition in October 2021: Solstice has received ~$2.3 million in option payments (cash and shares) from the portfolio Two Ontario gold exploration property packages were sold creating two new stand-alone gold royalties One Ontario copper (Cu) exploration property was optioned to a newly formed exploration company Four Ontario lithium (Li) properties were optioned to an international lithium explorer One option agreement was exercised early creating one new rare earth (REE) royalty Portfolio Asset Summary 67 exploration-staged assets located in Ontario and Quebec 39 currently optioned to partners that may generate cash inflows and on exercise, new royaltie...