Valkea Completes Option of Legacy Australian Properties to S2 Resources
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF) has finalized two significant option agreements with S2 Resources Corp for its Australian properties:
1. The YBWSS Option allows S2 to earn an 80% interest in the Yuengroon, Ballarat West and Silver Spoon projects by investing A$1.2 million over four years, with Valkea retaining 20%.
2. The Glenfine Option enables S2 to acquire a 51% stake in the Glenfine project through A$200,000 in expenditure over four years, with current partners maintaining 49%.
If any party's joint venture interest falls below 10%, it converts to a 2% net smelter return royalty. The agreements, previously outlined in a February 28, 2024 LOI, received shareholder approval on September 3, 2024. Additionally, Valkea granted 98,750 DSUs to non-executive directors at $0.40 per unit for Q4 2024 services.
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF) ha finalizzato due importanti accordi di opzione con S2 Resources Corp per le sue proprietà australiane:
1. L'Opzione YBWSS consente a S2 di acquisire una partecipazione dell'80% nei progetti Yuengroon, Ballarat West e Silver Spoon investendo 1,2 milioni di dollari australiani in quattro anni, con Valkea che mantiene il 20%.
2. L'Opzione Glenfine permette a S2 di acquisire una quota del 51% nel progetto Glenfine attraverso una spesa di 200.000 dollari australiani in quattro anni, con i partner attuali che mantengono il 49%.
Se l'interesse di joint venture di una qualsiasi parte scende sotto il 10%, si converte in una royalty netta del 2% sul ritorno della fusione. Gli accordi, precedentemente delineati in una LOI del 28 febbraio 2024, hanno ricevuto l'approvazione degli azionisti il 3 settembre 2024. Inoltre, Valkea ha concesso 98.750 DSU a direttori non esecutivi a 0,40 dollari per unità per i servizi del Q4 2024.
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF) ha finalizado dos importantes acuerdos de opción con S2 Resources Corp para sus propiedades en Australia:
1. La Opción YBWSS permite a S2 obtener un 80% de interés en los proyectos Yuengroon, Ballarat West y Silver Spoon invirtiendo 1,2 millones de dólares australianos durante cuatro años, con Valkea manteniendo el 20%.
2. La Opción Glenfine permite a S2 adquirir una participación del 51% en el proyecto Glenfine a través de un gasto de 200.000 dólares australianos en cuatro años, con los socios actuales manteniendo el 49%.
Si el interés de joint venture de alguna parte cae por debajo del 10%, se convierte en una regalía neta del 2% sobre el retorno de la fundición. Los acuerdos, previamente delineados en una LOI del 28 de febrero de 2024, recibieron la aprobación de los accionistas el 3 de septiembre de 2024. Además, Valkea otorgó 98.750 DSU a directores no ejecutivos a 0,40 dólares por unidad por los servicios del Q4 2024.
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF)는 S2 Resources Corp와 호주 자산에 대한 두 가지 중요한 옵션 계약을 체결했습니다:
1. YBWSS 옵션은 S2가 4년 동안 120만 호주 달러를 투자하여 Yuengroon, Ballarat West 및 Silver Spoon 프로젝트에서 80%의 지분을 얻을 수 있도록 합니다. Valkea는 20%를 유지합니다.
2. Glenfine 옵션은 S2가 4년 동안 20만 호주 달러를 지출하여 Glenfine 프로젝트에서 51%의 지분을 취득할 수 있게 합니다. 현재 파트너는 49%를 유지합니다.
어느 당사자의 조인트 벤처 지분이 10% 이하로 떨어지면 2%의 순 제련 수익 로열티로 전환됩니다. 이 계약은 2024년 2월 28일 LOI에서 이전에 설명되었으며, 2024년 9월 3일 주주 승인을 받았습니다. 또한, Valkea는 Q4 2024 서비스에 대해 비상임 이사에게 주당 0.40 달러로 98,750 DSU를 부여했습니다.
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF) a finalisé deux accords d'option significatifs avec S2 Resources Corp pour ses propriétés australiennes :
1. L'Option YBWSS permet à S2 d'acquérir un intérêt de 80% dans les projets Yuengroon, Ballarat West et Silver Spoon en investissant 1,2 million de dollars australiens sur quatre ans, Valkea conservant 20%.
2. L'Option Glenfine permet à S2 d'acquérir une participation de 51% dans le projet Glenfine grâce à une dépense de 200.000 dollars australiens sur quatre ans, les partenaires actuels conservant 49%.
Si l'intérêt de joint venture d'une partie tombe en dessous de 10%, il se transforme en une redevance nette de 2% sur le retour de fusion. Les accords, précédemment décrits dans une LOI du 28 février 2024, ont reçu l'approbation des actionnaires le 3 septembre 2024. De plus, Valkea a accordé 98.750 DSU à des administrateurs non exécutifs à 0,40 $ par unité pour les services du Q4 2024.
Valkea Resources Corp (TSXV: OZ) (OTCQB: OZBKF) hat zwei bedeutende Optionsvereinbarungen mit S2 Resources Corp für seine australischen Liegenschaften abgeschlossen:
1. Die YBWSS-Option ermöglicht es S2, durch eine Investition von 1,2 Millionen AUD über vier Jahre einen 80%igen Anteil an den Projekten Yuengroon, Ballarat West und Silver Spoon zu erwerben, wobei Valkea 20% behält.
2. Die Glenfine-Option ermöglicht es S2, durch eine Ausgabe von 200.000 AUD über vier Jahre einen 51%igen Anteil am Glenfine-Projekt zu erwerben, während die aktuellen Partner 49% behalten.
Wenn das Joint-Venture-Interesse einer Partei unter 10% fällt, wird es in eine 2%ige Netto-Schmelz-Royalty umgewandelt. Die Vereinbarungen, die zuvor in einem LOI vom 28. Februar 2024 skizziert wurden, erhielten am 3. September 2024 die Zustimmung der Aktionäre. Darüber hinaus gewährte Valkea 98.750 DSUs an nicht-executive Direktoren zu je 0,40 USD pro Einheit für die Dienstleistungen im Q4 2024.
- Option agreements secure A$1.4M in exploration funding for Australian properties
- Retains significant ownership stakes (20% in YBWSS, 49% in Glenfine)
- 2% NSR royalty protection if interest falls below 10%
- Significant reduction in ownership of core Australian assets
- Loss of operational control over properties
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2025) - Valkea Resources Corp. (TSXV: OZ) (OTCQB: OZBKF) (the "Company" or "Valkea") is pleased to announce that it has completed the grant of an option (the "YBWSS Option") on its Yuengroon, Ballarat West and Silver Spoon projects located in Australia to S2 Resources Corp ("S2"), as previously announced on December 4, 2024. Pursuant to the YBWSS Option, S2 can earn an
The Company also announces that it has granted S2 an option (the "Glenfine Option" and, together with the YBWSS Option, the "Options") on its Glenfine project located in Australia. Pursuant to the Glenfine Option, S2 can earn a
Upon exercise of the YBWSS Option, S2 will hold an
The Company and S2 had previously entered into a letter of intent dated February 28, 2024 (the "LOI") with respect to the Options. The terms of the definitive agreements governing the Options are consistent with the terms of the LOI.
The Options were approved by disinterested shareholders of the Company at a special meeting held on September 3, 2024. Approval by disinterested shareholders satisfied TSX-V requirements and the minority shareholder approval requirement of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), both of which were applicable due to S2 being a "related party" of the Company by virtue of S2 being an insider of the Company. The Company is exempt from the formal valuation requirements of MI 61-101 contained in sections 5.5(a) of MI 61-101 on the basis of the exemption contained in section 5.5(b) of MI 61-101 as the Company's common shares are not listed on a specified market.
DSU Grant to Non-Executive Directors
The Company also announces the grant of an aggregate of 98,750 DSUs to its non-executive directors at a deemed price of
About Valkea Resources
Valkea Resources is at the forefront of gold exploration in Finland's highly prospective Central Lapland Greenstone Belt. With an extensive portfolio of high-potential projects, including the flagship Paana project, Valkea Resources is committed to discovering and advancing significant gold deposits in one of the world's emerging gold districts.
Contact Information
For more information please contact:
Chris Donaldson, Chief Executive Officer and Director
Email: info@valkea.ca
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 or forward-looking information relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements in this news release include but are not limited to the Company's exploration plans.
Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: details regarding the Meeting. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include but are not limited to: the Company's early stage of development; the fluctuation of the price of metals; the availability of additional funding as and when required; the speculative nature of mineral exploration and development; the timing and ability to maintain and, where necessary, obtain necessary permits and licenses; the uncertainty in geologic, hydrological, metallurgical and geotechnical studies and opinions; infrastructure risks, including access to water and power; environmental risks and hazards; risks associated with negative operating cash flow; and risks associated with dilution. For a further discussion of risks relevant to the Company, see the Company's other public disclosure documents.
Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243161
FAQ
What are the terms of S2 Resources' option agreement for Valkea's (OZBKF) Australian properties?
What happens if a joint venture partner's interest in OZBKF projects drops below 10%?
When did shareholders approve the S2 Resources option agreements for OZBKF's Australian assets?
How many DSUs did Valkea (OZBKF) grant to non-executive directors and at what price?
