Solstice Gold Corp V.SGC

Transformative Acquisition of Extensive Portfolio of Royalty

[Betteryear2]

VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to announce that we have executed a purchase agreement (the “Transaction”) to acquire a portfolio of royalty and property interests (the "Portfolio") from a group of vendors including renowned Canadian prospector and entrepreneur Perry English who has amongst other successes unrelated to this transaction vended the claims to Great Bear Resources that today comprise part of the Dixie Project in Red Lake, Ontario. This sale will be consummated through his company 1544230 Ontario Inc., along with his business partner Gravel Ridge Resources Ltd. and its principals (collectively, with Perry English, the “Vendors”) for a cash purchase price of C$3.8 million and 400,000 common shares of Solstice. C$235,000 cash has already been paid as a deposit to the Vendors. Key highlights are summarized below:

Acquisition Details

• Acquisition is expected to be fully funded from proceeds of concurrent financing and early exercise of existing warrants of the Company.
• The Portfolio consists of royalty and property interests in 86 projects, including:
• 45 projects that are currently under option to third parties, of which 42 include provision for net smelter return (“NSR”) royalty interests (subject to exercise of the options)
• 10 stand-alone NSR royalty interests
• 30 additional 100 percent owned properties available for option or sale.
• Buyout of our RLX project including its NSR royalty.

our website at www.solsticegold.com

https://www.globenewswire.com/news-release/2021/09/15/2297287/0/en/Solstice-Gold-Announces-Transformative-Acquisition-of-Extensive-Portfolio-of-Royalty-and-Property-Interests-in-Ontario-and-Quebec.html