News
ORIGINAL: TRU Precious Metals Signs Definitive Agreement for Drill-Ready Twilite Gold Project
2020-10-29 07:30 ET - News Release
FREDERICTON, New Brunswick, Oct. 29, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”).
Pursuant to the Definitive Agreement, the Company will indirectly purchase 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project (“Twilite”), along with all related permits and technical data (collectively, the “Purchased Assets”). For further details on the Definitive Agreement, please see the Company’s October 14, 2020 press release, which sets out the terms of the proposed transaction as set forth in the binding letter of intent between TRU and the Vendor dated October 13, 2020, which terms are substantially reflected in the Definitive Agreement.
TRU Co-Founder and CEO Joel Freudman commented, “When we close this transaction, Twilite will become the most advanced asset in our Newfoundland Gold Exploration portfolio. Meanwhile, we’re already working with our recently-formed Technical Committee to plan and budget for third-party exploration work at Twilite over the winter, to enhance the value of this property.”
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction will be completed as soon as is practicable based on governmental claims transfer processing times, and remains subject to regulatory approval by the TSX Venture Exchange.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com