Troymet Completes Sale of Key Property
10 Décembre 2013 - 10:23PM
Marketwired
Troymet Completes Sale of Key Property
CALGARY, ALBERTA--(Marketwired - Dec 10, 2013) - Troymet
Exploration Corp. (TSX-VENTURE:TYE) ("Troymet") announced today
that, further to the press release dated November 19, 2013, it has
completed the sale of its 100% interest in the Key Property in
British Columbia to New Gold Inc. ("New Gold") (the
"Transaction").
Pursuant to the Transaction, Troymet sold its 100% interest in
the Key Property, along with associated technical information and
permits, for a purchase price of $2,000,000 cash. Troymet was also
granted a 2% net smelter returns royalty ("NSR Royalty") on the Key
Property, of which 1% (reducing the NSR Royalty from 2% to 1%) can
be purchased by New Gold for $2,000,000 cash. In addition, in
connection with the Transaction, New Gold has committed to spend
$1,500,000 on the Key Property, with a minimum of $500,000 of
expenditures on or before December 31, 2014 and the balance of
$1,000,000 of expenditures on or before December 31, 2018, subject
to certain conditions.
Dr. Kieran Downes, President of Troymet, commented, "We are very
pleased to have completed the sale of the Key Property to New Gold.
The sale puts Troymet in a strong financial position to advance its
current portfolio of properties and to pursue other high impact
mineral projects while ensuring the continued exploration of the
Key Property by the dominant player in the emerging Blackwater gold
district."
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
Website: www.troymet.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This press release may contain certain forward-looking
information. In particular, this press release contains
forward-looking information in respect of the Transaction and the
potential development of the Key project. All statements included
herein, other than statements of historical fact, are
forward-looking information and such information involves various
risks and uncertainties. There can be no assurance that such
information will prove to be accurate, and that actual results and
future events could differ materially from those anticipated in
such information. This forward-looking information reflects
Troymet's current beliefs and is based on information currently
available to Troymet and on assumptions Troymet believes are
reasonable. These assumptions include, but are not limited to,
anticipated exploration costs and results of Troymet's projects
(including the Key project upon completion of the Transaction) and
exploration and development of Troymet's projects (including the
Key project upon completion of the Transaction), other costs and
expenses of Troymet and possible financing scenarios for future
exploration and development by Troymet. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of Troymet to be materially different
from those expressed or implied by such forward-looking
information. Such risks and other factors may include, but are not
limited to: the early stage development of Troymet and its
projects; general business, economic, competitive, political and
social uncertainties; commodity prices; the actual results of
current exploration and development or operational activities;
competition; changes in project parameters as plans continue to be
refined; accidents and other risks inherent in the mining industry;
lack of insurance; delay or failure to receive board or regulatory
approvals; changes in legislation, including environmental
legislation, affecting Troymet; timing and availability of external
financing on acceptable terms; conclusions of economic evaluations;
and lack of qualified, skilled labour or loss of key individuals. A
description of other assumptions used to develop such
forward-looking information and a description of other risk factors
that may cause actual results to differ materially from
forward-looking information may be found in Troymet's disclosure
documents on the SEDAR website at www.sedar.com. Troymet does not
undertake to update any forward-looking information except in
accordance with applicable securities laws.
Anthony ZelenInvestor
Relations1-888-456-4952anthony@senergyir.com
Troymet Exploration Corp. (TSXV:TYE)
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