Hayasa Metals Announces Sale of 1.25% NSR over Urasar Mineral District, Armenia for US$1M
Hayasa Metals (HAYAF) has announced the sale of a 1.25% Net Smelter Return (NSR) royalty for its Urasar gold-copper project in northern Armenia to Franco-Nevada and EMX Royalty for US$1 million in cash. Franco-Nevada will contribute US$550,000 and EMX US$450,000.
Each company will receive a 0.625% NSR royalty interest and 250,000 share purchase warrants, exercisable within 18 months at CAD 0.22. The companies will also have a right of first refusal for future royalty or stream interests.
The Urasar project, acquired by Hayasa in 2023, is located along a crustal-scale structure in the Tethyan Metallogenic Belt. The area has historical copper production dating back to World War I and Soviet-era exploration. The project shares geological similarities with Armenia's largest gold mine, the Sotk deposit.
Hayasa Metals (HAYAF) ha annunciato la vendita di una royalty del 1,25% sul Net Smelter Return (NSR) per il suo progetto aurifero e di rame Urasar, situato nel nord dell'Armenia, a Franco-Nevada ed EMX Royalty per 1 milione di dollari in contanti. Franco-Nevada contribuirà con 550.000 dollari e EMX con 450.000 dollari.
Ogni azienda riceverà un interesse royalty NSR dello 0,625% e 250.000 warrant per l'acquisto di azioni, esercitabili entro 18 mesi a CAD 0,22. Le aziende avranno anche un diritto di prelazione per future royalties o interessi di stream.
Il progetto Urasar, acquisito da Hayasa nel 2023, si trova lungo una struttura di scala crostale nella cintura metallogenica Tethyana. La zona ha una produzione storica di rame risalente alla Prima Guerra Mondiale e all'esplorazione dell'era sovietica. Il progetto condivide somiglianze geologiche con la più grande miniera d'oro dell'Armenia, il deposito di Sotk.
Hayasa Metals (HAYAF) ha anunciado la venta de una regalía del 1.25% sobre el Net Smelter Return (NSR) para su proyecto de oro-cobre Urasar, ubicado en el norte de Armenia, a Franco-Nevada y EMX Royalty por 1 millón de dólares en efectivo. Franco-Nevada contribuirá con 550,000 dólares y EMX con 450,000 dólares.
Cada empresa recibirá un interés de regalía NSR del 0.625% y 250,000 warrants de compra de acciones, que se pueden ejercer dentro de 18 meses a CAD 0.22. Las empresas también tendrán derecho de preferencia para futuros intereses de regalías o streaming.
El proyecto Urasar, adquirido por Hayasa en 2023, se encuentra a lo largo de una estructura a escala de corteza en la Cintura Metalogénica Tethyana. La zona tiene una producción histórica de cobre que se remonta a la Primera Guerra Mundial y a la exploración de la era soviética. El proyecto comparte similitudes geológicas con la mina de oro más grande de Armenia, el depósito de Sotk.
Hayasa Metals (HAYAF)가 아르메니아 북부에 있는 Urasar 금-구리 프로젝트에 대한 1.25% 순 제련 수익(Net Smelter Return, NSR) 로열티를 Franco-Nevada 및 EMX Royalty에 100만 달러에 현금으로 판매한다고 발표했습니다. Franco-Nevada는 55만 달러를 기여하고 EMX는 45만 달러를 기여합니다.
각 회사는 0.625% NSR 로열티 이익과 25만 건의 주식 매입 워런트를 받을 것이며, 이는 18개월 이내에 CAD 0.22에 행사할 수 있습니다. 이들 회사는 향후 로열티나 스트림 이자에 대한 우선 매수권도 갖습니다.
Urasar 프로젝트는 2023년에 Hayasa에 의해 인수되었으며, Tethyan 금속 생성대의 크러스트 규모 구조를 따라 위치해 있습니다. 이 지역은 제1차 세계대전과 소련 시대 탐험으로 거슬러 올라가는 역사적인 구리 생산을 가지고 있습니다. 이 프로젝트는 아르메니아에서 가장 큰 금 광산인 Sotk 광상과 지질적 유사성을 공유하고 있습니다.
Hayasa Metals (HAYAF) a annoncé la vente d'une redevance de 1,25 % sur le Net Smelter Return (NSR) pour son projet d'or-cuivre Urasar, situé dans le nord de l'Arménie, à Franco-Nevada et EMX Royalty pour 1 million de dollars en espèces. Franco-Nevada contribuera à hauteur de 550 000 dollars et EMX à hauteur de 450 000 dollars.
Chaque entreprise recevra un intérêt de redevance NSR de 0,625 % ainsi que 250 000 bons de souscription d'actions, exerçables dans les 18 mois au prix de 0,22 CAD. Les entreprises disposeront également d'un droit de première offre pour de futurs intérêts de redevance ou de flux.
Le projet Urasar, acquis par Hayasa en 2023, est situé le long d'une structure de grande envergure dans la Ceinture métallogénique tethysienne. La région a une production historique de cuivre remontant à la Première Guerre mondiale et à l'exploration de l'ère soviétique. Le projet présente des similitudes géologiques avec la plus grande mine d'or d'Arménie, le gisement de Sotk.
Hayasa Metals (HAYAF) hat den Verkauf einer 1,25% Net Smelter Return (NSR) Royaltie für sein Urasar Gold-Kupfer-Projekt im Norden Armeniens an Franco-Nevada und EMX Royalty für 1 Million US-Dollar in bar angekündigt. Franco-Nevada wird 550.000 US-Dollar und EMX 450.000 US-Dollar beitragen.
Jedes Unternehmen wird ein 0,625% NSR-Royalty-Interesse sowie 250.000 Aktienkaufwarrants erhalten, die innerhalb von 18 Monaten zu CAD 0,22 ausgeübt werden können. Außerdem haben die Unternehmen ein Vorkaufsrecht auf zukünftige Royalties oder Streaming-Interessen.
Das Urasar-Projekt, das 2023 von Hayasa erworben wurde, liegt entlang einer krustalen Struktur im Tethys-Metallogenen Gürtel. Die Region hat eine historische Kupferproduktion, die bis zum Ersten Weltkrieg und zur sowjetischen Erkundung zurückreicht. Das Projekt weist geologische Ähnlichkeiten mit Armeniens größter Goldmine, dem Sotk-Vorkommen, auf.
- Non-dilutive cash injection of US$1 million
- Strategic partnership with two major royalty companies
- Additional funding through potential warrant exercise (500,000 warrants at CAD 0.22)
- Funds secured for expanded 2025 drill program
- Permanent reduction in future revenue potential through 1.25% NSR sale
- Right of first refusal granted to Franco-Nevada and EMX limits future financing flexibility
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) ("Hayasa" or the "Company") is pleased to announce the sale of a
Commercial Terms
Franco-Nevada and EMX will pay the Company a combined US
Additionally, each company will be issued 250,000 share purchase warrants, which can be exercised on a one-for-one basis for common shares of Hayasa within 18 months following issuance at an exercise price of CAD 0.22, subject to approval by the exchange.
As part of the transaction, Franco and EMX will have a right of first refusal in respect of any future royalty, stream or similar interest on Urasar.
Chairman Dennis Moore comments
"We are very pleased to make this non-dilutive royalty sale to two of the best-known royalty companies in the mining world. This deal has been attained after months of negotiations between the parties and was finalized at the end of 2024. The funds will enable the Company to enhance its ongoing exploration program at Urasar including an expanded drill program being planned for the 2025 field season, and assist with the acquisition of additional nearby ground."
CEO Joel Sutherland added:
"The combination of Franco-Nevada and EMX as partners in the Urasar project is a big win for Hayasa. The non-dilutive capital of the royalty sale will materially help Hayasa management in its mission to daylight value for shareholders through 2025 and beyond."
Urasar Gold-Copper District
The Urasar gold-copper project was acquired by Hayasa in 2023 by direct acquisition of an exploration permit from the Armenian government following an assessment of the Tethyan Metallogenic Belt by Hayasa that was led by Hayasa President and Chairman, Dennis Moore.
The Urasar project occurs along a crustal-scale structure representing the closing of the ancient Tethyan sea, which juxtaposes an older package of ophiolitic rocks against Tertiary volcanic and volcaniclastic rocks. Gold and copper mineralization occur along the contact zones throughout the Urasar exploration license and elsewhere in the region.
The Urasar area saw minor historic copper production by the French during World War I and was later explored by the Soviets in the 1920's, 1930's and 1950's. Several Soviet era resources were defined in accordance with the Soviet reporting systems at the time (non 43-101 compliant), but virtually no work was carried out until Hayasa's recent exploration programs. The style of mineralization at Urasar displays a similar geological setting to mineralization at the Sotk gold deposit, the largest gold mine in Armenia, which occurs along the same crustal lineament, approximately 120kms to the southeast.
Figure 1: Map of Armenia showing active mines, deposits and Hayasa projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/236238_5c33f85744997823_002full.jpg
Armenia
In addition to its modern mining code and favorable fiscal regime, Armenia currently has over ten active metals mines including two producing porphyry copper-molybdenum operations, ranking Armenia as the sixth largest molybdenum producer in the world. Mining contributes about
Qualified person
The content of this news release was reviewed by Dennis Moore, Hayasa's President and Chairman, a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
Joel Sutherland
CEO
Hayasa Metals Inc.
For further information, contact:
joel@hayasametals.com
www.hayasametals.com
https://twitter.com/Hayasametals
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.
Forward-looking statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements including, without limitation, statements regarding future exploration programs at Urasar. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236238
FAQ
How much did Hayasa Metals (HAYAF) receive for the NSR royalty sale?
What percentage of NSR royalty did Hayasa Metals (HAYAF) sell for the Urasar project?
What are the terms of the warrants issued to Franco-Nevada and EMX in the HAYAF deal?
How will Hayasa Metals (HAYAF) use the proceeds from the NSR sale?
When did Hayasa Metals (HAYAF) acquire the Urasar gold-copper project?
