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TomaGold Announces Closing of Hazeur, Monster Lake East and Monster Lake West Properties Sale Transaction
TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ ...
About this update from Tomagold Corporation Class A
[{"type":"text","content":"TomaGold Announces Closing of Hazeur, Monster Lake East and Monster Lake West Properties Sale Transaction\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistlowroman { list-style-type: lower-roman }\n \n\n\n\n\n TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF)\n \n (“\n \n TomaGold\n \n ” or the “\n \n Company\n \n ”) is pleased to announce the closing of the previously-disclosed asset purchase agreement with Northern Superior Resources Inc. (TSXV: SUP; OTCQX: NSUPF; GR: D9M1) (“\n \n Northern Superior\n \n ”) dated July 10, 2025 (the “\n \n Asset Purchase Agreement\n \n ”), for the sale of the Company’s wholly-owned Hazeur, Monster Lake East and Monster Lake West properties (collectively, the “\n \n Properties\n \n ”), located in the Chibougamau area, in the province of Québec.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20250718930823/en/\n \n\n\n\n\n Figure 1 – Map of TomaGold’s Chibougamau Projects\n \n\n\n Pursuant to the Asset Purchase Agreement, in consideration for the acquisition of the Properties (the “\n \n Proposed Acquisition\n \n ”), Northern Superior provided the following consideration to TomaGold:\n \n\n\n\n Closing Payment\n \n : A cash payment of $1,000,000 to TomaGold in satisfaction of the purchase price of the Asset Purchase Agreement; and\n \n\n\n\n Royalty\n \n : Northern Superior granted to TomaGold, a net smelter returns royalty of 2% (the “\n \n NSR\n \n ”) on all mineral production from the Properties pursuant to a net smelter royalty agreement dated as of the closing date of the Proposed Acquisition. Northern Superior, or any successor entity that holds an interest in the Properties, has the right to repurchase one half (i.e., 1.0%) of the NSR at any time for a one-time cash payment of $1,000,000.\n \n\n\n An additional payment of $1,000,000, payable in cash or shares, at the election of Northern Superior, shall be payable to TomaGold in the occurrence of certain events, as detailed in the Asset Purchase Agreement and the press releases of the Company issued on June 16, 2025 and July 11, 2025.\n \n\n “This is an important transaction for TomaGold. It will enable us to begin o...