Blue Moon Announces Sale of Yava Project
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) has announced the sale of its Yava project in Nunavut to Honey Badger Silver Inc. (TSXV: TUF). The transaction involves Blue Moon receiving 4,250,000 common shares of Honey Badger, valued at approximately $340,000 (based on $0.08 per share). This represents about 6.5% of Honey Badger's total issued and outstanding shares.
The consideration is subject to a four-month hold period, and Blue Moon has agreed to a twelve-month lock-up period. CEO Patrick McGrath stated that the Yava project offers an exciting silver exploration opportunity, and Blue Moon will continue to participate in its future through its ownership in Honey Badger. The company plans to focus on developing its Blue Moon deposit in the United States and is evaluating next steps, including the possibility of commencing a Preliminary Economic Assessment.
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) ha annunciato la vendita del suo progetto Yava in Nunavut a Honey Badger Silver Inc. (TSXV: TUF). La transazione prevede che Blue Moon riceva 4.250.000 azioni ordinarie di Honey Badger, valutate all'incirca $340.000 (basato su $0.08 per azione). Ciò rappresenta circa 6,5% del totale delle azioni emesse e in circolazione di Honey Badger.
Il corrispettivo è soggetto a un periodo di blocco di quattro mesi, e Blue Moon ha accettato un periodo di lock-up di dodici mesi. Il CEO Patrick McGrath ha dichiarato che il progetto Yava offre un'emozionante opportunità di esplorazione dell'argento, e Blue Moon continuerà a partecipare al suo futuro attraverso la sua partecipazione in Honey Badger. L'azienda prevede di concentrarsi sullo sviluppo del suo giacimento Blue Moon negli Stati Uniti e sta valutando i prossimi passi, inclusa la possibilità di avviare una Valutazione Economica Preliminare.
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) ha anunciado la venta de su proyecto Yava en Nunavut a Honey Badger Silver Inc. (TSXV: TUF). La transacción implica que Blue Moon reciba 4,250,000 acciones ordinarias de Honey Badger, valoradas en aproximadamente $340,000 (basado en $0.08 por acción). Esto representa alrededor del 6.5% del total de acciones emitidas y en circulación de Honey Badger.
La contraprestación está sujeta a un período de retención de cuatro meses, y Blue Moon ha aceptado un período de bloqueo de doce meses. El CEO Patrick McGrath declaró que el proyecto Yava ofrece una emocionante oportunidad de exploración de plata, y Blue Moon continuará participando en su futuro a través de su participación en Honey Badger. La empresa planea centrarse en el desarrollo de su depósito Blue Moon en Estados Unidos y está evaluando los próximos pasos, incluida la posibilidad de iniciar una Evaluación Económica Preliminar.
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF)는 Nunavut의 Yava 프로젝트를 Honey Badger Silver Inc. (TSXV: TUF)에 판매한다고 발표했습니다. 이번 거래에서 Blue Moon은 Honey Badger의 4,250,000 주식을 받고 있으며, 이는 약 $340,000 (주당 $0.08 기준)으로 평가됩니다. 이는 Honey Badger의 총 발행 주식의 약 6.5%에 해당합니다.
대가는 4개월의 보류 기간이 있으며, Blue Moon은 12개월의 잠금 기간에 동의했습니다. CEO Patrick McGrath는 Yava 프로젝트가 흥미로운 은 탐사 기회를 제공한다고 밝혔으며, Blue Moon은 Honey Badger의 소유를 통해 미래에 계속 참여할 것이라고 말했습니다. 이 회사는 미국에 있는 Blue Moon 매장지 개발에 집중할 계획이며, 예비 경제 평가를 시작할 가능성을 포함해 다음 단계를 평가하고 있습니다.
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) a annoncé la vente de son projet Yava au Nunavut à Honey Badger Silver Inc. (TSXV: TUF). La transaction implique que Blue Moon reçoit 4,250,000 actions ordinaires de Honey Badger, d'une valeur d'environ 340 000 $ (basé sur 0,08 $ par action). Cela représente environ 6,5% du total des actions émises et en circulation de Honey Badger.
La contrepartie est soumise à une période de blocage de quatre mois, et Blue Moon a accepté une période de lock-up de douze mois. Le PDG Patrick McGrath a déclaré que le projet Yava offre une opportunité d'exploration de l'argent passionnante, et Blue Moon continuera de participer à son avenir grâce à sa participation dans Honey Badger. L'entreprise prévoit de se concentrer sur le développement de son dépôt Blue Moon aux États-Unis et évalue les prochaines étapes, y compris la possibilité de commencer une évaluation économique préliminaire.
Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) hat den Verkauf seines Yava-Projekts in Nunavut an Honey Badger Silver Inc. (TSXV: TUF) bekannt gegeben. Die Transaktion sieht vor, dass Blue Moon 4.250.000 Stammaktien von Honey Badger erhält, die auf etwa $340.000 geschätzt werden (basierend auf $0,08 pro Aktie). Dies entspricht etwa 6,5% der insgesamt ausgegebenen und ausstehenden Aktien von Honey Badger.
Die Gegenleistung unterliegt einer viermonatigen Sperrfrist, und Blue Moon hat einer zwölfmonatigen Lock-up-Periode zugestimmt. CEO Patrick McGrath erklärte, dass das Yava-Projekt eine aufregende Silberexplorationsmöglichkeit bietet und Blue Moon in Zukunft durch seine Beteiligung an Honey Badger weiterhin aktiv sein wird. Das Unternehmen plant, sich auf die Entwicklung seines Blue Moon-Lagers in den Vereinigten Staaten zu konzentrieren und bewertet die nächsten Schritte, einschließlich der Möglichkeit, eine vorläufige Wirtschaftsbewertung zu beginnen.
- Sale of non-core Yava project for approximately $340,000 in Honey Badger shares
- Acquisition of 6.5% ownership in Honey Badger Silver Inc.
- Potential for future value through Honey Badger's silver exploration projects
- Increased focus on developing the core Blue Moon deposit in the United States
- Consideration of commencing a Preliminary Economic Assessment for the Blue Moon deposit
- Consideration received in shares, not cash, subject to market volatility
- Four-month hold period and twelve-month lock-up period limiting immediate liquidity
VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) is pleased to announce that it has agreed to sell its Yava project located in Nunavut to Honey Badger Silver Inc. (TSXV: TUF). Pursuant to the definitive agreement and subject to customary closing conditions, the Company will receive 4,250,000 common shares of Honey Badger with an implied value of approximately
Patrick McGrath, the CEO of the Company, stated “The Yava project offers an exciting silver exploration opportunity and Blue Moon will continue to participate in its future through its material ownership in Honey Badger. The Yava project is considered non-core for the Company, so we are happy to monetize the asset and continue to focus on developing our Blue Moon deposit in the United States. We are currently evaluating the next steps for Blue Moon including the commencing of a Preliminary Economic Assessment.”
About Blue Moon Metals
Blue Moon Metals is advancing its Blue Moon polymetallic deposit which contains zinc, gold, silver and copper. The property is well located with existing local infrastructure including paved highways three miles from site; a hydroelectric power generation facility a few miles from the site, a three-hour drive to the Oakland port and a four-hour drive to the service centre of Reno. Zinc is currently on the USGS list of metals critical to the US economy and national security. More information is available on the company’s website (www.bluemoonmetals.com).
For more information, please contact:
Patrick McGrath, CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur such as completion of the Transaction. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the resource industry.
FAQ
What is the value of the Yava project sale for Blue Moon Metals (BMOOF)?
How many shares of Honey Badger will Blue Moon Metals (BMOOF) receive for the Yava project?
What are Blue Moon Metals' (BMOOF) plans after selling the Yava project?
Are there any restrictions on the shares Blue Moon Metals (BMOOF) receives from Honey Badger?
