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Brixton Metals Reduces Royalties at its Thorn Project Through a Purchase Agreement with Kohima Pacific Gold

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Brixton Metals Reduces Royalties at its Thorn Project Through a Purchase Agreement with Kohima Pacific Gold

 

 

 

 

 

Brixton Metals Corporation (TSX-V: BBB) (OTCQB: BBBXF) is pleased to announce that it has entered into a Royalty Purchase Agreement dated June 17, 2024  with Kohima Pacific Gold Corporation, a private company, pursuant to which the Company will purchase and concurrently cancel, the outstanding 2% royalty on net smelter returns from the Check-Mate claim and the outstanding 3.5% royalty on net smelter returns from the Stuart claims, all of which are located on the Company’s Thorn Project.

 

Chairman and CEO, Gary R. Thompson, stated, “We are pleased to have reached an agreement with Kohima on the purchase of these royalties, further reducing encumbrances and increasing the potential viability of the project. The original Check-Mate mineral claims were centered on the Camp Creek Target area including the near surface high-sulphidation gold-silver-copper mineralization and the porphyry copper-gold-silver-molybdenite mineralization at depth.”

 

The Company has agreed to issue, subject to the acceptance by the TSX Venture Exchange, an aggregate of 2,500,000 common shares to Kohima in consideration for the purchase and cancellation of the net smelter return royalties all as set out in the Royalty Purchase Agreement.

 

The common shares to be issued by the Company in accordance with the terms of the Royalty Purchase Agreement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation and TSX Venture Exchange policy. No finder’s fees are payable in connection with the transaction.

 

About Brixton Metals Corporation

 

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC.

 

Posted June 20, 2024

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