- VR Resources (OTCQB:VRRCF) to sell its Hecla-Kilmer REE mineral property located in Ontario, in a transaction valued at $3.6 million in cash and shares, which will provide non-dilutive funding for a drill program planned for this spring on its New Boston copper-moly-silver porphyry system in Nevada.
- Neotech Metals to pay a cash consideration of $1 million, of which $600,000 is paid on March 28th, and the $400,000 balance paid no later than April 26th.
- The deal also included the issuance of 4,000,000 common shares in the capital of NeoTech, to be released per the terms of a 30 month escrow agreement, which includes release of 500,000 shares on closing.
- Furthermore, VR Resources (OTCQB:VRRCF) to retain an interest in H-K for shareholders through an existing royalty buy-down agreement.
- Source: Press Release
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