International Prospect Ventures Announces Strategic Partnership with Gold Royalty Corp.
International Prospect Ventures Announces
Strategic Partnership with Gold Royalty Corp.
Val-d'Or, Quebec--(Newsfile Corp. - December 2, 2022) -
International Prospect Ventures Ltd.
(TSXV: IZZ) (the "Company") is pleased to announce that, further to its news release of October 28,
2022 with respect to a non-brokered private placement offering (the "Offering") for gross proceeds of
$500,000, it has entered into a Subscription and Strategic Partnership Agreement dated November 30,
2022 (the "Agreement") with Gold Royalty Corp. ("GROY").
GROY holds indirectly, through its wholly
owned subsidiary, Golden Valley Mines and Royalties Ltd., 4,470,910 shares of the Company
representing 11% of the Company's issued share capital.
Completion of the Offering, and in particular,
GROY's participation in the Offering, is subject to the approval of the TSX Venture Exchange.
The Agreement provides that, for so long as GROY and/or its affiliates hold more than 10% of the
outstanding shares of the Company, the parties will cooperate with respect to opportunities for royalty,
streaming or similar opportunities in Australia. The Company will provide GROY with the opportunities to
acquire royalty, streaming or similar opportunities on mineral projects or properties in Australia based on
certain criteria decided by the parties, in consideration for which the Company will retain an
interest in
the underlying royalty on a carried-basis.
In addition, the Company will provide GROY with a right of first
refusal in respect of any royalty or similar interest in any mineral property in Australia in which the
Company or any of its subsidiaries has an interest, that the Company seeks to sell, transfer or otherwise
dispose of.
About International Prospect Ventures Ltd.
International Prospect is a natural resource issuer involved in the process of acquiring and exploring
mineral property assets. The Company uses its wholly owned subsidiary Valroc, a New South Wales
company, to carry out business in Australia.
To complement its current property interests in Western Australia and elsewhere in Australia, Valroc
evaluates regularly new opportunities.
The Company holds also several properties in Canada, for which the Company is seeking partners for
the formation of joint ventures or for outright sales transactions. Those properties include the Porcupine
Miracle Prospect within Langmuir Township in north-eastern Ontario and several Uranium properties in
Saskatchewan (West Stewart and Beartooth Island), Ontario (Elliot Lake) and Quebec (Matoush).
For additional information, please contact:
Glenn J. Mullan
President and CEO
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email:
Website:
www.iprospectventures.ca
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements.
Forward-looking statements are statements that are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should"
occur. Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or realities may differ materially from those in forward-looking statements. Forward-looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made. Except as required by law, the Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO
SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE
SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S.
NEWS AGENCIES
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