TORONTO, Jan. 28, 2019 (GLOBE NEWSWIRE) -- NSR Resources Inc. (“NSR” or the “Company”) is pleased to provide the following update on a recent corporate event.
Disposition of Mining Claims
On January 11, 2019, NSR entered into a Purchase and Sale Agreement, pursuant to which NSR agreed to sell and transfer to Canadian Malartic GP (“CMGP”) all of NSR’s rights, title and interest in the Rand Property for a purchase price of US$5,000,000. In connection with the sale of the Rand Property, CMGP also agreed to grant a royalty to NSR equal to 2% of net smelter returns from precious metals produced on the Rand Property, subject to the terms of a separate royalty agreement between NSR and CMGP.
The sale of the Rand Property is subject to approval of the shareholders of NSR, among other customary conditions.
On behalf of the board of directors of NSR Resources Inc.
For further information, please contact Carmelo Marrelli, Director, +1 416-361-0737
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.