RE:RE: Announces Reduction of Future Royalty
It certainly is good news - more so than most people think! Note that it resolves one of the issues that had been listed on SEDAR for years. That being an upfront payment for over $2,000,000 being due immediately even before production starts according to the complaint! That was a big reason for investors not coming on board I would think. It's likely under the radar because a lot of folk haven't yet made the connection to what the original dispute was. Go back to SEDAR and check - that was a dispute that actually had some merit to it possibly depending on how the agreement was worded.
So now they just need to make an upfront payment of $210,000 from the $2,000,000 they just raised (read below)
"The royalty has been reduced from 1% to 0.5% of net smelter returns, and the maximum amount has been reduced from USD $2,320,000 to a maximum of USD $1,160,000. Stroud has the right to purchase the remaining Royalty for USD $685,000 at any time prior to September 7, 2021. Stroud paid USD $25,000 and another USD $210,000 is payable upon the Company closing its previously announced private placement financing."