Post by
ScandiumPower on Apr 19, 2021 3:05am
IPG and SOQUEM Closed the property Transaction
As part of the Transaction, Imperial Mining has sold its 100% undivided interest in the Carheil-Brouillan copper-zinc-silver property in Quebec to SOQUEM in exchange for a cash payment of $450,000. Imperial will retain a two per cent (2%) Net Smelter Royalty (“NSR”) on the property, which can be acquired by SOQUEM for an additional cash payment of $2.0 million. In addition, SOQUEM has transferred its 50% Joint Venture interest in the La Roncire gold property, giving Imperial a 100% interest, in exchange for a one and one quarter per cent (1.25%) NSR, which can be acquired by Imperial for $1.25 million in cash at any future date
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2496-tsx-venture/ipg/97319-imperial-and-soquem-close-the-transaction-to-exchange-quebec-base-metal-and-gold-property-interests.html