Nova Royalty Corp. is pleased to announce that, further to its news release dated November 11, 2020, it has completed the previously announced acquisition from a subsidiary of Boart Longyear Limited (ASX: BLY) of an existing 2.4% net smelter return royalty on a portion of the Twin Metals copper-nickel-platinum group metals project located in Minnesota being advanced by Antofagasta PLC (LSE: ANTO). Total consideration paid to the Seller consisted of US$1,800,000 in cash and 161,572 common shares of Nova. Additional contingent payments totalling up to an additional US$4 million will be owing to the Seller if certain milestones are achieved in respect of the TMM Project. Please see the Company’s news release of November 11, 2020 for further details on the TMM Project and the Royalty.
Nova is a royalty company focused on providing investors with exposure to the key building blocks of clean energy – copper and nickel. The Company is headquartered in Vancouver, British Columbia and is listed on the TSX Venture Exchange.
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We acknowledge the [financial] support of the Government of Canada.