Val-d'Or Mining Closes on NSR Purchase Agreement Transaction
Val-d'Or Mining Closes on NSR Purchase
Agreement Transaction
Val-d'Or, Quebec--(Newsfile Corp. - September 28, 2023) - Val-d'Or Mining Corporation (TSXV: VZZ)
(the "Company") announces that further to the Company's news releases of May 30, 2023, June 29,
2023 and August 28, 2023, the Company has received final acceptance from the TSX Venture
Exchange (the "Exchange") for the transactions contemplated under the NSR Purchase Agreement
dated May 26, 2023 (the "NSR Purchase Agreement") entered into with 2973090 Canada Inc., a private
company wholly-owned and controlled by Glenn J. Mullan, a director and the Chair, President and Chief
Executive Officer of the Company and Glenn J. Mullan.
Pursuant to the NSR Purchase Agreement, the
Company has purchased and concurrently cancelled various net smelter return royalties. The Company
has issued an aggregate of 2,222,222 common shares in consideration for the purchase and
cancellation of the net smelter return royalties as set out in the NSR Purchase Agreement.
The issuance of shares by the Company to 2973090 Canada Inc. and Glenn J. Mullan under the NSR
Purchase Agreement constitutes a related party transaction pursuant to Exchange Policy 5.9 and
Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions
.
The
NSR Purchase Agreement and transactions contemplated thereby were approved by disinterested
shareholders at the Company's Annual General and Special Meeting held on September 8, 2023.
The common shares issued by the Company in accordance with the terms of the NSR Purchase
Agreement are subject to a hold period of four months and one day from the date of issuance in
accordance with applicable securities legislation and Exchange policy.
No finder's fees were paid in
connection with the transaction.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and
exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE
Ontario and NW Québec. To complement its current property interests, the Company regularly evaluates
new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi
Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering
different geological environments and commodities (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in early-stage
exploration. The mineral commodities of interest are broad, and range from gold, copper-zinc-silver,
nickel-copper-PGE to industrial and energy minerals.
After the initial value creation in the 100%-owned,
or majority-owned properties, the Company seeks option/joint venture partners with the technical
expertise and financial capacity to conduct more advanced exploration projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/182262