RE:Bonnes Nouvelles ce matin...Good News this morningEnglish version....
(MKTW) Matamec Announces the Closing of the Sale of its Royalties in the Timmins Gold Camp to Metalla Royalty & Streaming Ltd. Matamec Announces the Closing of the Sale of its Royalties in the Timmins Gold Camp to Metalla Royalty & Streaming Ltd.
Net Smelter Royalties on the Hoyle-Matheson and Montclerg Properties Sold
MONTREAL, QUEBEC--(Marketwired - Jun 5, 2017) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQB:MHREF) is pleased to announce the closing of the sale and purchase agreement with Metalla Royalty & Streaming Ltd. ("Metalla") of its royalties on the Hoyle-Matheson Royalties (HMR) Property and the Montclerg Property.
The purchase price paid for the royalties is made up of $500,000 in cash and Two Million (2,000,000) shares of Metalla valued at $0.50 per share. Matamec received warrants to purchase another One Million (1,000,000) shares of Metalla at $0.75 per share for a period of two years. The shares and warrants cannot be traded for a period of 12 months from the closing date.
"With the sale of these royalties, Matamec will be able to focus its efforts on exploration activities at its owned properties," said Andr Gauthier, Matamec's President and CEO. "We can develop the potential of our properties in our Gold portfolio, as well as those with energy and technology-related metals held in Matamec's Energy portfolio."
Kipawa Rare Earth Joint Venture: Agreement on Use of Funds
Matamec also announces that it has entered into an agreement with Ressources Qubec, a Matamec shareholder and partner in the Kipawa Rare Earth Joint Venture (the "Joint Venture"), for the use of $ 200,000 from the Joint Venture's joint account for current operations purposes. Matamec has undertaken to repay this amount no later than November 13, 2017. As a guarantee for the repayment of this amount, Matamec has granted a hypothec on certain tax credits receivable for the years 2015 and 2016 and pledged certain securities.