TORONTO, ON / ACCESSWIRE / September 13, 2021 /Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that the Company has entered into a Royalty Purchase Agreement (‘the Agreement") for the purchase of a 2% net smelter return royalty ("the Royalty') on certain claims at its Homestake Ridge project in British Columbia (Figure 1). The purchase price is $400,000, payable 25% in cash and 75% in shares priced at the 5-day VWAP prior to completion on or before September 20, 2021, but in no event more than 328,367 shares or fewer than 239,000 shares. The shares will be subject to a four-month hold period in Canada. The TSX has conditionally approved the listing of these shares.
"The purchase and consolidation of the Homestake Ridge Royalty provides for a simplified, cleaner ownership structure of the project as it advances through future stages of discovery," commented Tim Clark, CEO of Fury.
The Homestake Ridge project is located in the prolific Iskut-Stewart-Kisault gold belt in northwestern British Columbia, Canada, and covers approximately 7,500 hectares. The project is host to a high-grade gold, silver, copper and lead resource, which remains open at depth and along strike. The Homestake Ridge project is held 100% by the Company, subject to two royalties, with a 2% net smelter royalty ("NSR") applicable to the Crown grants; and a 2% Royalty on 14 mineral claims, which is the subject of this Agreement.
Email: info@furygoldmines.com
Website: www.furygoldmines.com
https://www.accesswire.com/663679/Fury-to-Buy-Out-Homestake-Ridge-Royalty