BRWXF - Brunswick Signs Right to Repurchases 0.5% NSR on Select Claims at Mirage | Benzinga
MONTREAL, April 08, 2024 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (TSXV:BRW, OTCQB:BRWXF, "BRW" or the "Company")) is pleased to announce that it signed an agreement with Sirios Resources ("Sirios") to repurchase an existing 0.5% NSR on certain claims within the Mirage Project, located in the Eeyou Istchee James Bay region of Quebec.
Mr. Killian Charles, President and CEO of BRW, commented: "We are excitedly looking forward to the approaching release of the first wave of results from our Winter 2024 campaign at Mirage as these results will continue to demonstrate the growing exploration prospectivity at Mirage. In the interim, we have been actively working in consolidating the region and improving the economic potential of the project through various opportunities including this royalty repurchase and the transaction announced today further cements Mirage as one of the leading lithium projects in our portfolio."
Royalty Repurchase Overview
The royalty repurchase will be completed under the following terms and is subject to final approval from the TSXV:
- Cash payment of $50,000 within five business days of the agreement's final approval from the TSXV (the "Effective date")
- Payment schedule in cash, share or a combination of both, to Sirios: