Buchans Resources Sells Newfoundland Assets to Canterra Minerals
Buchans Resources Sells Newfoundland Assets to Canterra Minerals
Providing Buchans Shareholders with Publicly-Traded Exposure to Consolidation of Highly Prospective Base Metals District in Central Newfoundland, Large Mineral Resource Inventory Across Multiple Deposits, Including the past Producing Buchans Mine and Other Critical and Precious Metals Projects
为Buchans股东提供公开交易的风险敞口,以整合纽芬兰中部极具前景的贱金属区,涵盖多个矿床的大量矿产资源库存,包括过去生产的Buchans矿和其他关键和贵金属项目
Toronto, Ontario--(Newsfile Corp. - November 22, 2023) - Buchans Resources Limited ("Buchans" or the "Company") is pleased to announce that the Company and its wholly-owned subsidiary, Buchans Minerals Corporation (the "Seller"), have entered into an asset purchase agreement (the "Asset Purchase Agreement") with Canterra Minerals Corporation (TSXV: CTM) ("Canterra" or the "Buyer") to sell the Company's portfolio of critical and precious metals projects in central Newfoundland, in exchange for common shares ("Consideration Shares") and special warrants ("Consideration Warrants") of Canterra, valued at approximately $7.5 million or $0.116 per common share of Buchans ("Buchans Share").
安大略省多伦多--(Newsfile Corp.-2023 年 11 月 22 日)- 布汉斯资源有限公司 (”Buchans“或者”公司“)很高兴地宣布,该公司及其全资子公司布坎斯矿业公司(”卖家“),已签订资产购买协议(”资产购买协议“) 与坎特拉矿业公司 (TSXV: CTM) 合作 (”坎特拉“或者”买家“) 出售公司在纽芬兰中部的关键和贵金属项目组合,以换取普通股(”对价股“) 和特别认股权证 (”对价认股权证“)的Canterra,价值约750万美元,合Buchans的每股普通股0.116美元(”Buchans 分享“)。
Buchans intends to distribute at least 80% of the common shares of Canterra (the "Canterra Shares") underlying the Consideration Warrants to shareholders of Buchans ("Buchans Shareholders").
Buchans打算分配至少80%的Canterra普通股(”坎特拉股票“)向Buchans股东发放的代价权证的基础(”Buchans 股东“)。
Benefits to Buchans Shareholders include:
Buchans 股东的好处包括:
- Meaningful equity position in Canterra (TSXV: CTM) (OTCQB: CTMCF), an active and growth-oriented publicly-listed junior explorer in Newfoundland;
- Consolidation of highly prospective base metals district in Central Newfoundland, with a large mineral resource inventory across multiple deposits that ranks favourably in terms of tonnage and grade amongst the peer group, including the past producing Buchans Mine, a prolific polymetallic massive sulfide mine that was operated by ASARCO (and others) for over 50 years producing zinc and copper concentrate from high-grade ore;
- Near-term value to Buchans Shareholders via the distribution (the "Distribution") in due course of at least 80% of the Canterra Shares underlying the Consideration Warrants, representing a material proportion (at least 67%) of the $7.5M value of the Transaction based on Canterra's current share price ($0.05);
- High quality, supportive and concentrated shareholder base at Canterra;
- 80% of shares held amongst small group of shareholders;
- Eric Sprott, Michael Gentile, Cairn, Altius and Pathfinder;
- Exposure to Canterra's Clipper Brook, Wilding Lake and Noel-Paul gold assets in Newfoundland which cover ~80 km of prospective strike length of the gold bearing Valentine Lake Shear Zone adjacent to Marathon Gold Corporation;
- Exposure to the Buffalo Hills Diamond asset in Alberta, a joint venture between Canterra and Star Diamonds Corporation, which hosts 38 kimberlites and has been subject to over C$15 million in exploration, including a bulk sample;
- Exposure to Canterra's recently-staked nickel assets in the Ring of Fire, Ontario;
- Complementary and dynamic management teams and Board of Directors that should be well positioned to execute on the business and exploration plans going forward.
- Canterra(多伦多证券交易所股票代码:CTM)(场外交易代码:CTMCF)的重要股票头寸,Canterra是一家活跃且以增长为导向的上市初级勘探公司;
- 整合纽芬兰中部极具前景的贱金属区,拥有多个矿床的大量矿产资源库存,其吨位和品位在同行群体中名列前茅,其中包括过去生产的Buchans矿,这是一个多金属块状硫化物矿,由ASARCO(和其他矿床)运营了50多年,从高品位矿石中生产锌和铜精矿;
- 通过分配给布汉股东的短期价值(”分布“)在适当时候将持有对价认股权证所依据的至少80%的Canterra股票,根据Canterra当前股价(0.05美元),占该交易价值750万美元的重要比例(至少67%);
- Canterra拥有高质量、支持性和集中的股东基础;
- 80% 的股份由一小部分股东持有;
- 埃里克·斯普罗特、迈克尔·金蒂尔、凯恩、阿尔蒂乌斯和探路者;
- 投资Canterra在纽芬兰的Clipper Brook、Wilding Lake和Noel-Paul的黄金资产,这些资产涵盖了马拉松黄金公司附近的瓦伦丁湖剪切带约80公里的预期行使长度;
- 投资位于艾伯塔省的布法罗山钻石资产,该资产是Canterra和Star Diamonds Corporation的合资企业,拥有38块金伯利岩,并进行了超过1500万加元的勘探,包括批量样本;
- 曝光Canterra最近在安大略省火环中质押的镍资产;
- 互补和充满活力的管理团队和董事会应该能够很好地执行未来的业务和勘探计划。
In addition, Buchans Shareholders will retain their shareholding in Buchans, with funding available to advance exploration of Buchans' nickel, copper, cobalt and gold exploration assets in Labrador, with the ultimate goal of a sale or go-public transaction in respect of those assets. Buchans will also continue to hold its 19.9% investment in Royalties Inc. (CSE: RI) and 14% investment in Minco Exploration plc.
此外,Buchans的股东将保留其在Buchans的股权,为推进布汉斯在拉布拉多的镍、铜、钴和金勘探资产的勘探提供资金,最终目标是出售这些资产或进行公开交易。Buchans还将继续持有对特许权使用费公司(CSE:RI)19.9%的投资,对Minco Exploration plc的14%投资。
Further information on Canterra and its combined assets following the close of the Transaction is available in Canterra's press release today at .
交易结束后有关Canterra及其合并资产的更多信息可在Canterra今天的新闻稿中找到,网址为。
"We are delighted to become a significant shareholder of Canterra," stated John Kearney, Chairman & CEO. "This transaction with Canterra consolidates the central Newfoundland area play, and puts the world-class potential of our Newfoundland assets in the hands of a young and aggressive team with a proven ability to finance regional scale exploration programs."
“我们很高兴成为Canterra的重要股东,” 声明 约翰·科尔尼,董事长兼首席执行官。“与Canterra的这项交易巩固了纽芬兰中部地区的优势,并将我们在纽芬兰的资产的世界级潜力交给了一支年轻而积极进取的团队,该团队已证明有能力为区域规模的勘探项目提供资金。”
"We plan to distribute most of the consideration received in this transaction to our shareholders, providing them with publicly-listed shares in an active and growth-oriented junior explorer that will hold nearly the entirety of central Newfoundland's VMS camp."
“我们计划将本次交易中获得的大部分对价分配给我们的股东,向他们提供一家活跃且以增长为导向的初级勘探公司的公开上市股份,该勘探公司将持有纽芬兰中部VMS阵营的几乎全部股份。”
Mr. Kearney continued, "Buchans will continue to hold our promising nickel, copper, cobalt and gold exploration assets in Labrador, with the goal of advancing exploration on both assets over the course of the next 18-months. We have long held these assets, without sufficient funding to realize their potential. Buchans' South Voiseys Bay Ni/Cu/Co Project has high-priority, drill-ready targets in a confirmed Voisey Bay-style environment, while our Tasiuyak Gold Project is in orogenic iron formation-hosted geology, a similar setting to the renowned Homestake Mine in South Dakota. We look forward to advancing and transacting on both of these projects over the near- to mid-term."
科尔尼先生继续说,”Buchans将继续在拉布拉多持有我们前景光明的镍、铜、钴和金勘探资产,目标是在未来18个月内推进这两项资产的勘探。我们长期持有这些资产,没有足够的资金来实现其潜力。Buchans的South Voiseys Bay Ni/Cu/Co项目具有高度优先级、随时可以钻探的目标,而我们的Tasiuyak金矿项目则处于造山铁层承载的地质环境中,与南达科他州著名的霍姆斯特克矿相似。我们期待在短期至中期内推进这两个项目并进行交易。”
"Paul Moore, Buchans Vice President Exploration, and Dave Butler, Exploration Manager, who have each been tireless in their advancement of Buchans' assets in Newfoundland for many years will be joining the Canterra team going forward, though we expect to call on their advice and expertise as we undertake our planned exploration programs in Labrador. I thank them for their dedication to Buchans and look forward to their achievements with the Canterra team over the coming years. Michael Power, currently a director of Buchans, will be appointed as a director of Canterra."
“布汉斯勘探副总裁保罗·摩尔和勘探经理戴夫·巴特勒多年来都在不知疲倦地发展布汉在纽芬兰的资产,他们将加入Canterra团队,尽管我们预计在拉布拉多开展计划中的勘探计划时会征求他们的建议和专业知识。我感谢他们对Buchans的奉献精神,并期待他们在未来几年与Canterra团队一起取得成就。现任Buchans董事的迈克尔·鲍尔将被任命为Canterra的董事。”
Terms of the Asset Purchase Agreement
资产购买协议的条款
The Transaction will be a cashless transaction, with the consideration comprising (a) 24,910,000 Consideration Shares, representing an approximate 19.9% ownership interest in Canterra at closing, and (b) 125,500,000 Consideration Warrants (subject to certain adjustments on closing) exchangeable for Canterra Shares, for no additional consideration, upon the fulfillment of certain conditions, particularly that the exchange of the Consideration Warrants will not result in a Change of Control of Canterra or the creation of a new Control Person of Canterra, as defined by the TSXV policies.
该交易将是一项无现金交易,对价包括(a)24,910,000股对价股,在收盘时占Canterra约19.9%的所有权;(b)125,500,000份对价认股权证(收盘时需进行某些调整),在满足某些条件时无需额外对价,特别是交换对价权证不会导致Canterra控制权变更或Canterra的设立定义为 Canterra 的新控制人员根据多伦多证券交易所的政策。
The Consideration Shares and Consideration Warrants (and underlying Canterra Shares) will be subject to a statutory hold period, expiring four months and one day from the closing. Additionally, the Consideration Shares will be subject to transfer conditions for a period of 24 months post-closing. The Canterra Common Shares issuable upon exchange of the Consideration Warrants will be subject to contractual holds with 1/3 being freely tradable on the planned Distribution (assuming expiry of statutory hold), 1/3 being freely tradable on the date which is three months from distribution and 1/3 being freely tradable on the date which is six months from distribution.
对价股票和对价认股权证(以及标的Canterra股票)将有法定持有期,自收盘之日起四个月零一天到期。此外,对价股份将在收盘后的24个月内受转让条件的约束。交换对价认股权证时可发行的Canterra普通股将受合同持有限制,其中1/3可在计划分配(假设法定持有到期)时自由交易,1/3可在分发后三个月之日自由交易,1/3可在分配后六个月之日自由交易。
The Transaction is expected to be completed in December 2023 and remains subject to customary conditions for transactions of this nature, including third-party consents and waivers, and the acceptance by the TSX Venture Exchange.
该交易预计将于2023年12月完成,并仍受此类性质交易的惯例条件的约束,包括第三方的同意和豁免,以及多伦多证券交易所风险交易所的接受。
Information on the Distribution
有关分发的信息
Following closing of the Transaction, Buchans will begin the process of distributing at least 80% of the Canterra Shares underlying the Consideration Warrants to Buchans Shareholders. Further information will be provided to Buchans Shareholders in due course, but the Company expects that the Distribution will take place in the first half of 2024.
交易完成后,Buchans将开始向Buchans股东分配对价认股权证所依据的至少80%的Canterra股份。将在适当时候向Buchans股东提供更多信息,但该公司预计将在2024年上半年进行分配。
ABOUT BUCHANS RESOURCES
关于 BUCHAN 的资源
Buchans Resources holds interests in zinc, lead, silver properties located in Newfoundland; gold properties in Newfoundland and in Labrador; nickel, copper, cobalt properties in Labrador; and, indirectly, through its 19.9% shareholding in Royalties Inc. (CSE: RI), base metal and silver projects in Mexico and, through its 14% shareholding in Minco Exploration plc, base metal exploration licences in Ireland.
Buchans Resources持有位于纽芬兰的锌、铅、银地产;纽芬兰和拉布拉多的黄金地产;拉布拉多的镍、铜、钴地产;间接持有其19.9%的股权 特许权使用费公司 (CSE: RI)、墨西哥的贱金属和白银项目,以及通过其持股 14% Minco 勘探有限公司,爱尔兰的贱金属勘探许可证。
Enquiries
查询
John F. Kearney: Chairman & Chief Executive +1 416 362 6686
Paul Moore: V.P. Exploration +1 709 738 7384
Steve Dawson: V.P. Corporate +1 647 998 9495
Peter McParland: Director - Ireland +353 (0) 46 907 3709
约翰·科尔尼:董事长兼首席执行官 +1 416 362 6686
保罗·摩尔:探索副总裁 +1 709 738 7384
史蒂夫·道森:企业副总裁 +1 647 998 9495
彼得·麦克帕兰:爱尔兰导演 +353 (0) 46 907 3709
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请在推特和领英上关注我们。其他信息可在以下网址获得。
FORWARD-LOOKING STATEMENTS
前瞻性陈述
This news release contains certain forward-looking statements relating to, but not limited to, the Company's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects and timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, delays in the development of projects changes in exchange rates, fluctuations in commodity prices, inflation and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. Shareholders and prospective investors should be aware that these statements are subject to known and unknown risks uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
本新闻稿包含与但不限于公司的预期、意图、计划和信念有关的某些前瞻性陈述。前瞻性信息通常可以通过诸如 “预测”、“相信”、“期望”、“目标”、“计划”、“打算”、“估计”、“可能” 和 “意愿” 等前瞻性词语或暗示未来结果的类似词语来识别,或其他预期、信念、计划、目标、假设、意图或有关未来事件或业绩的陈述。前瞻性信息可能包括储量和资源估计、未来产量估计、单位成本、资本项目成本和开工时间,这些信息基于当前的预期,涉及许多业务风险和不确定性。可能导致实际业绩与任何前瞻性陈述存在重大差异的因素包括但不限于未能确定估计的资源和储量、开采矿石的品位和回收率与估计值相差很大、延迟获得或未能获得所需的政府、环境或其他项目批准、项目开发延迟、汇率变化、大宗商品价格波动、通货膨胀和其他因素。前瞻性陈述受风险、不确定性和其他因素的影响,这些因素可能导致实际业绩与预期结果存在重大差异。股东和潜在投资者应意识到,这些陈述受已知和未知的风险、不确定性和其他因素的影响,这些因素可能导致实际业绩与前瞻性陈述所暗示的业绩存在重大差异。提醒股东不要过分依赖前瞻性信息。就其本质而言,前瞻性信息涉及许多假设、固有的风险和不确定性,包括一般和具体的,这些假设增加了预测、预测、预测和各种未来事件不发生的可能性。除非法律要求,否则公司没有义务公开更新或以其他方式修改任何前瞻性信息,无论这些信息是由于新信息、未来事件还是其他影响这些信息的因素造成的。
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问