TORONTO, March 26, 2019 (GLOBE NEWSWIRE) -- NSR Resources Inc. (“NSR” or the “Company”) is pleased to announce the completion of the sale of its 100% interest in 13 mining claims in Fourniere Township, Quebec (the “Rand Property”) to Canadian Malartic GP (“CMGP”). At a special meeting of the shareholders of NSR held on March 25, 2019, a resolution authorizing the sale of the Rand Property to CMGP was approved (the “Transaction”).
The Transaction was completed pursuant to the terms of a Purchase and Sale Agreement, between NSR and CMGP, on January 11, 2019, pursuant to which NSR agreed to sell and transfer to CMGP all of NSR’s interest in the Rand Property for a purchase price of US$5,000,000. In connection with the completion of the sale of the Rand Property, CMGP has 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.
For further information please contact Carmelo Marrelli, Director, (416) 848-0106.
On behalf of the board of directors of NSR Resources Inc.
Carmelo Marrelli,
Director