NTH:CC - Nord Precious Metals Settles Shares for Debt
(TheNewswire)
April 10, 2024 – TheNewswire– Coquitlam, BC, Nord Precious Metals MiningInc., (TSXV: NTH) (OTCQB: CCWOF) (Frankfurt:4T9B) (the "Company" or "Nord” or “Nord PreciousMetals”), announces that it has reached anagreement with certain creditors to repay debts in the aggregateamount of $174,616 through the issuance of 3,492,320 common shares ofthe Company at a deemed price of $0.05 per share (the“Transaction”).
All securities issued in connection with theTransaction will be subject to a four?month and a day hold period inaccordance with applicable Canadian securities laws. The Transaction is subject to the approval of the TSX VentureExchange.
Interested investors can access information about NordPrecious Metals at its website, NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn,Facebook, and YouTube for which links are available on the Company’swebsite.
About Nord Precious Metals MiningInc.
Nord Precious Metals Mining Inc. (formerly CanadaSilver Cobalt Works Inc.) recently discovered a major high-gradesilver vein system at Castle East located 1.5 km from its 100%-owned,past-producing Castle Mine near Gowganda in the prolific andworld-class silver-cobalt mining district of Northern Ontario. TheCompany has completed a 60,000 m drill program aimed at expanding thesize of the deposit with an update to the resource estimateunderway.
In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections(1A and 1B) of the Castle East Robinson Zone, beginning at a verticaldepth of approximately 400 meters. Note that mineral resources thatare not mineral reserves and do not have demonstrated economicviability. Please refer to the Nord Precious Metals (previously CanadaSilver Cobalt Works) Press Release May 28, 2020, for the resourceestimate. Report reference: Rachidi, M. 2020, NI 43-101 TechnicalReport Mineral Resource Estimate for Castle East, Robinson Zone,Ontario, Canada, with an effective date of May 28, 2020, and asignature date of July 13, 2020.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed a nearly16,000-metre drill program on the Graal property, which is now part ofConiagas Battery Metals; (2) the prospective 1,000-hectare Eby-Ottogold property close to Agnico Eagle’s high-grade Macassa Mine nearKirkland Lake, Ontario where it is exploring; and (3) St.Denis-Sangster lithium project – 260 square kilometers of greenfieldexploration ground with numerous pegmatites focussed along asignificant volcanic sedimentary rock – Archean granite contact nearCochrane, Ontario contiguous to Power Metals’ Case Lake Lithiumproperties.
Nord Precious Metals’ flagship silver-cobalt Castlemine and 78 sq. km Castle property feature strong exploration upsidefor silver, cobalt, nickel, gold, and copper. With underground accessat the fully owned Castle Mine, an exceptional high-grade silverdiscovery at Castle East, a pilot plant to produce cobalt-rich gravityconcentrates, a processing facility (TTL Laboratories) in the town ofCobalt, and a proprietary hydrometallurgical process known as Re-2Ox(for the creation of technical-grade cobalt sulphate as well asnickel-manganese-cobalt (NMC) formulations), Nord Precious Metals isstrategically positioned to become a Canadian leader in thesilver-cobalt space. More information is available at www.nordpreciousmetals.com .
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-LookingStatements
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-looking statements. The Company does notundertake to update any forward-looking information in this newsrelease or other communications unless required by law.
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