NVSGF - Nevada Sunrise Signs Indicative Term Sheet to Sell Remaining Interest in the Kinsley Mountain Gold Project Nevada | Benzinga
VANCOUVER, BC, July 8, 2024 /CNW/ - Nevada Sunrise Metals Corp. (TSXV:NEV) (OTC:NVSGF) ("Nevada Sunrise" or the "Company") announced today that it has signed a non-binding, indicative term sheet with CopAur Minerals Inc. ("CopAur") for CopAur to acquire Nevada Sunrise's remaining ownership interest in the Kinsley Mountain Gold Project in Nevada ("Kinsley Mountain"). If the transaction is completed, CopAur will own 100% of Kinsley Mountain.
The indicative term sheet outlines a potential transaction whereby CopAur would acquire Nevada Sunrises' 18.74% ownership interest in Kinsley Mountain in consideration of the payment of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur (the "Shares"). The Shares would be deposited in escrow and released in successive releases of 250,000 Shares once every calendar quarter commencing after expiry of the four-month statutory hold period following the closing date. The terms of the transaction are indicative and the final terms are subject to the negotiation and completion of a definitive agreement on terms acceptable to Nevada Sunrise and CopAur. The transaction is subject to a number of conditions including CopAur arranging a financing in the amount of a minimum of CDN$475,000, ...