STLLR Gold Announces Proposed Sale of its Non-Core Loveland Nickel Property to Loyalist Exploration
STLLR Gold Inc. (STLRF) has announced a binding letter of intent with Loyalist Exploration to sell its Loveland Nickel Property, located 45km northwest of Timmins, Ontario. The transaction aligns with STLLR's strategy to streamline operations and focus on its core assets: the Tower and Colomac Gold Projects and Hollinger Tailings Project.
The deal terms include:
- C$250,000 upfront cash payment
- 7,000,000 Loyalist common shares
- 2.0% net smelter royalty with a 1.0% buyback option for C$1,000,000 (CPI adjusted)
The parties are required to finalize a definitive agreement by March 31, 2025.
STLLR Gold Inc. (STLRF) ha annunciato una lettera di intenti vincolante con Loyalist Exploration per vendere il suo Loveland Nickel Property, situato a 45 km a nord-ovest di Timmins, Ontario. La transazione si allinea con la strategia di STLLR di semplificare le operazioni e concentrarsi sui suoi asset principali: i progetti d'oro Tower e Colomac e il progetto Hollinger Tailings.
I termini dell'accordo includono:
- Pagamento iniziale in contante di C$250,000
- 7,000,000 azioni ordinarie di Loyalist
- Royalty netta di fusione del 2.0% con un'opzione di riacquisto dell'1.0% per C$1,000,000 (adeguato all'indice CPI)
Le parti sono tenute a finalizzare un accordo definitivo entro il 31 marzo 2025.
STLLR Gold Inc. (STLRF) ha anunciado una carta de intención vinculante con Loyalist Exploration para vender su Loveland Nickel Property, ubicado a 45 km al noroeste de Timmins, Ontario. La transacción se alinea con la estrategia de STLLR de simplificar operaciones y centrarse en sus activos principales: los proyectos de oro Tower y Colomac y el proyecto de residuos de Hollinger.
Los términos del acuerdo incluyen:
- Pago inicial en efectivo de C$250,000
- 7,000,000 acciones comunes de Loyalist
- Royalty neto de fundición del 2.0% con una opción de recompra del 1.0% por C$1,000,000 (ajustado por CPI)
Las partes deben finalizar un acuerdo definitivo antes del 31 de marzo de 2025.
STLLR Gold Inc. (STLRF)는 Loyalist Exploration과 Loveland Nickel Property를 판매하기 위한 구속력 있는 의향서를 발표했습니다. 이 부동산은 온타리오주 팀민스에서 북서쪽으로 45km 떨어진 곳에 위치하고 있습니다. 이 거래는 STLLR의 운영을 간소화하고 핵심 자산인 타워 및 콜로맥 금 프로젝트와 홀린저 테일링 프로젝트에 집중하려는 전략과 일치합니다.
거래 조건은 다음과 같습니다:
- 초기 현금 지급액 C$250,000
- 7,000,000 Loyalist 보통주
- 2.0% 순 제련 로열티와 C$1,000,000(물가 상승률 조정)에 대한 1.0% 재매입 옵션
양 당사자는 2025년 3월 31일까지 최종 계약을 체결해야 합니다.
STLLR Gold Inc. (STLRF) a annoncé une lettre d'intention contraignante avec Loyalist Exploration pour vendre son Loveland Nickel Property, situé à 45 km au nord-ouest de Timmins, Ontario. La transaction s'inscrit dans la stratégie de STLLR de rationaliser ses opérations et de se concentrer sur ses actifs principaux : les projets d'or Tower et Colomac ainsi que le projet de résidus de Hollinger.
Les termes de l'accord incluent :
- Un paiement initial en espèces de C$250,000
- 7,000,000 actions ordinaires de Loyalist
- Une redevance nette de fusion de 2,0 % avec une option de rachat de 1,0 % pour C$1,000,000 (ajusté selon l'IPC)
Les parties doivent finaliser un accord définitif d'ici le 31 mars 2025.
STLLR Gold Inc. (STLRF) hat eine verbindliche Absichtserklärung mit Loyalist Exploration angekündigt, um sein Loveland Nickel Property zu verkaufen, das sich 45 km nordwestlich von Timmins, Ontario, befindet. Die Transaktion steht im Einklang mit der Strategie von STLLR, die Abläufe zu straffen und sich auf die Kernanlagen zu konzentrieren: die Goldprojekte Tower und Colomac sowie das Hollinger Tailings Project.
Die Bedingungen des Deals umfassen:
- Vorauszahlung in bar von C$250,000
- 7,000,000 Stammaktien von Loyalist
- 2,0% Nettoschmelzroyalty mit einer Rückkaufoption von 1,0% für C$1,000,000 (CPI-adjustiert)
Die Parteien sind verpflichtet, bis zum 31. März 2025 eine endgültige Vereinbarung abzuschließen.
- Immediate cash injection of C$250,000
- Equity stake of 7 million shares in Loyalist
- Retained 2% royalty interest with buyback provision
- Strategic focus on core gold assets
- Divestment of potentially valuable nickel asset amid rising EV metal demand
Toronto, Ontario--(Newsfile Corp. - February 27, 2025) - STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) ("STLLR" or the "Company") is pleased to announce it has entered into a binding letter of intent with Loyalist Exploration Limited (CSE: PNGC) ("Loyalist") to sell its interest in the Loveland Nickel Property (the "Transaction"), located approximately 45 kilometres ("km") northwest of Timmins, Ontario, Canada.
The Transaction is part of the Company's ongoing efforts to streamline its core business of focusing on advancing its Tower and Colomac Gold Projects and evaluating its Hollinger Tailings Project. The letter of intent requires the parties to enter a definitive agreement on or before March 31, 2025 that will provide that STLLR receives for the Transaction: i) C
About STLLR Gold
STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favourable upside potential. STLLR's experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
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STLLR Gold Investor Relations
+1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the completion of a definitive agreement for the Transaction and completion thereof. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "accelerate", "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "fast-track", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "leading", "plans", "potential" or "potentially", "pro-forma", "promise", "prospective", "prioritize", "reflects", "re-rating", "robust", "scheduled", "stronger", "suggesting" or "suggests", "support", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's Annual Information Form for the year ended December 31, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242699
FAQ
What are the financial terms of STLRF's Loveland Nickel Property sale to Loyalist?
When will STLRF complete the Loveland Nickel Property sale?
Which core projects will STLRF focus on after selling Loveland Nickel Property?
Where is the Loveland Nickel Property that STLRF is selling located?
