Business
Val-d'Or Mining Closes on Transactions and Completes Strategic Partnership with Gold Royalty Corp.
Val-d'Or, Québec--(Newsfile Corp. - January 30, 2023) - Val-d'Or Mining Corporation (TSXV: V...
About this update from Val-d'or Mining Corporation
[{"type":"text","content":"Val-d'Or Mining Closes on Transactions and Completes Strategic Partnership with Gold Royalty Corp.Val-d'Or, Québec--(Newsfile Corp. - January 30, 2023) - Val-d'Or Mining Corporation (TSXV: VZZ) (\"Val-d'Or Mining\" or the \"Company\") is pleased to report, further to its December 2, 2022 news release, that it has received conditional approval of the TSX Venture Exchange for, and consequently completed, the transaction (the \"Transaction\") contemplated by the letter agreement dated November 30, 2022 (the \"Agreement\") with Gold Royalty Corp.'s wholly owned subsidiary, Golden Valley Mines and Royalties Ltd. (\"Golden Valley\"), (which together with Gold Royalty Corp, referred to as \"Gold Royalty\"). The Company has purchased from Gold Royalty:the mineral rights and interests in the following properties located in Québec and Ontario - Bogside, Bogside NW, Cheechoo B East, Island 27, Matachewan, Munro, North Contact, Recession Larder, Riverside, Sharks, Smokehead and Titanic (together the \"Golden Valley Exploration Portfolio\") in consideration for which the Company has granted to Gold Royalty a net smelter return royalty (\"NSR\") of either 1% or 0.5% on each property comprising the Golden Valley Exploration Portfolio; andthe mineral rights and interests in all joint venture agreements that Golden Valley was a party to consisting of the Claw Lake, Cook Lake and Murdoch Creek properties in Ontario and the Perestroika Prospect in Québec (the \"JV Exploration Portfolio\") along with the assignment by Golden Valley to the Company of all of Golden Valley's rights, title, obligations and interests under the option agreement between Golden Valley and Eldorado Gold (Québec) Inc. dated October 8, 2021 (the \"Eldorado Option Agreement\"). In consideration for the purchase of the JV Exploration Portfolio, the Company has assigned to Gold Royalty three-quarters of the 2% NSR that the Company will be entitled to under the Eldorado Option Agreement, and also grant Golden Valley a royalty interest ranging up to 1.5% in and to all the Company's working interests in the JV Exploration Portfolio including under the Eldorado Option Agreement. No cash or equity consideration was paid for either the Golden Valley Exploration Portfolio or the JV Exploration Portfolio acquired by the Company. The Company will pay to Gold Royalty 2...