Braveheart Resources Inc. (TSX-V: BHT) (OTCQB: RIINF) is pleased to announce that, based on the results of a positive Preliminary Economic Assessment for its newly acquired Thierry Mine Project near Pickle Lake, Ontario (see press release dated January 14, 2021), the Company has negotiated the repurchase of a 2% Net Smelter Royalty from Cadillac Ventures Inc. for a consideration of 2,500,000 common shares of Braveheart. As per the Share Purchase Agreement dated October 21, 2020 and the Share Purchase Amending Agreement dated November 21, 2020, Braveheart was entitled to repurchase 1% of the 2% NSR for $1,000,000. The parties have replaced these terms so that Braveheart can repurchase the entire 2% NSR for 2,500,000 common shares of Braveheart.
Completion of the NSR repurchase is subject to the approval of the TSX Venture Exchange.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable Canadian mining jurisdictions at or near past-producing properties. Braveheart’s main asset is the 100% owned Bull River Mine project near Cranbrook, British Columbia which has a current Mineral Resource containing copper, gold and silver. Braveheart’s newest acquisition is the 100% owned Thierry Mine project near Pickle Lake, Ontario containing copper, nickel, palladium, platinum, gold and silver.
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We acknowledge the [financial] support of the Government of Canada.