M3 Sells Texas Spring Property
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) has announced a property sale agreement with Surge Battery Metals for its Texas Springs Properties. The deal involves Surge issuing 1,200,000 common shares to M3 Metals in exchange for full ownership of the properties. Previously, M3 Metals and Surge each owned 50% of these properties under an option agreement dated July 26, 2023, which has now been terminated. Upon closing, Surge will own 100% of the properties, and M3 Metals will provide quit claim deeds. The agreement is subject to TSX Venture Exchange approval. This move aligns with M3 Metals' focus on creating shareholder value through strategic development of mineral properties in North America.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) ha annunciato un accordo di vendita per le proprietà Texas Springs con Surge Battery Metals. L'affare prevede che Surge emetta 1.200.000 azioni ordinarie a M3 Metals in cambio della piena proprietà delle proprietà. In precedenza, M3 Metals e Surge detenevano ciascuna il 50% di queste proprietà in base a un contratto di opzione datato 26 luglio 2023, che è ora stato risolto. Al momento della chiusura, Surge possiederà il 100% delle proprietà e M3 Metals fornirà atti di traslazione di proprietà. L'accordo è soggetto all'approvazione della TSX Venture Exchange. Questa mossa è in linea con l'obiettivo di M3 Metals di creare valore per gli azionisti attraverso lo sviluppo strategico di proprietà minerarie in Nord America.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) ha anunciado un acuerdo de venta de propiedades con Surge Battery Metals para sus propiedades Texas Springs. El acuerdo implica que Surge emita 1,200,000 acciones ordinarias a M3 Metals a cambio de la plena propiedad de las propiedades. Anteriormente, M3 Metals y Surge poseían cada uno el 50% de estas propiedades bajo un acuerdo de opción fechado el 26 de julio de 2023, el cual ha sido rescindido. Al cierre, Surge será el propietario del 100% de las propiedades y M3 Metals proporcionará escrituras de renuncia. El acuerdo está sujeto a la aprobación de la TSX Venture Exchange. Este movimiento se alinea con el enfoque de M3 Metals en crear valor para los accionistas a través del desarrollo estratégico de propiedades minerales en América del Norte.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF)는 Surge Battery Metals와 Texas Springs Properties에 대한 자산 매각 계약을 발표했습니다. 이 계약에 따라 Surge는 M3 Metals에게 1,200,000주를 발행하고 자산의 완전 소유권을 확보합니다. 이전에 M3 Metals와 Surge는 2023년 7월 26일의 옵션 계약에 따라 각기 50%를 소유하고 있었으나, 이제 계약은 종료되었습니다. 거래가 완료되면 Surge는 자산의 100%를 소유하게 되며, M3 Metals는 명도 증서를 제공할 것입니다. 이 계약은 TSX Venture Exchange의 승인을 받아야 합니다. 이 조치는 M3 Metals가 북미에서 광물 자산의 전략적 개발을 통해 주주 가치를 창출하는 데 집중하고 있음을 반영합니다.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) a annoncé un accord de vente de biens avec Surge Battery Metals pour ses propriétés Texas Springs. L'accord implique que Surge émette 1.200.000 actions ordinaires à M3 Metals en échange de la pleine propriété des propriétés. Auparavant, M3 Metals et Surge possédaient chacun 50% de ces propriétés en vertu d'un contrat d'option daté du 26 juillet 2023, qui a désormais été résilié. À la clôture, Surge détiendra 100% des propriétés et M3 Metals fournira des actes de renonciation. L'accord est soumis à l'approbation de la TSX Venture Exchange. Ce mouvement s'aligne sur l'objectif de M3 Metals de créer de la valeur pour les actionnaires grâce au développement stratégique de propriétés minérales en Amérique du Nord.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) hat eine Verkaufsvereinbarung über die Texas Springs Properties mit Surge Battery Metals bekanntgegeben. Das Geschäft sieht vor, dass Surge 1.200.000 Stammaktien an M3 Metals im Austausch für das volle Eigentum an den Immobilien ausgibt. Zuvor besaßen M3 Metals und Surge jeweils 50% dieser Immobilien im Rahmen eines Optionsvertrags vom 26. Juli 2023, der nun beendet ist. Nach Abschluss wird Surge 100% der Immobilien besitzen, und M3 Metals wird Quit-Claim-Deeds bereitstellen. Die Vereinbarung steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange. Dieser Schritt steht im Einklang mit dem Fokus von M3 Metals auf die Schaffung von Aktionärswert durch strategische Entwicklung von mineralischen Eigentum in Nordamerika.
- Receives 1,200,000 common shares of Surge Battery Metals as compensation
- Potential for increased liquidity through acquisition of Surge shares
- Streamlines asset portfolio by divesting shared property
- Loss of 50% ownership in Texas Springs Properties
- Reduction in lithium exploration assets
West Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) - M3 metals Corp. (TSXV: MT) (OTCQB: MLGCF) (FSE: XOV) (the "Company" or "M3 Metals") is pleased to announce that M3 Metals and Surge Battery Metals ("Surge") have entered into a property purchase and sale agreement (the "Purchase Agreement") whereby M3 Metals, in consideration of the issuance to M3 Metals of a total of 1,200,000 common shares of the Company, will sell to Surge all of its right, title and interest in and to the Texas Springs Properties (the "Properties") in the area of Surge's Nevada North Lithium Project.
The Properties, which M3 Metals and Surge each own fifty (
Upon closing of the Purchase Agreement, Surge will own a one hundred (
More information concerning the Properties, including their location and number, can be found in the news releases of M3 Metals dated July 26, 2023.
The Purchase Agreement is subject to its acceptance for filing with the TSX Venture Exchange.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email info@m3metalscorp.com or call investor relations at (604) 669-2279.
M3 METALS CORP.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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 document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in Canada, the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220713
FAQ
What is the deal between M3 Metals (MLGCF) and Surge Battery Metals for the Texas Springs Properties?
When was the original option agreement for the Texas Springs Properties signed by M3 Metals (MLGCF)?
What regulatory approval is required for M3 Metals' (MLGCF) sale of the Texas Springs Properties?
Where are the Texas Springs Properties that M3 Metals (MLGCF) is selling located?
