SILEF - Silver Elephant announces sale of non-core Titan project for $1.29M
2023-08-09 10:02:22 ET
- Silver Elephant Mining ( OTCQX:SILEF ) on Wednesday announced the closing of sale of the company's Titan vanadium-iron-titanium project in Ontario to Cachee Gold Mines and Cachee's subsidiary Osprey Advanced Materials.
- Cachee paid Silver Elephant an aggregate of about $1.29 million, comprised of $231,000 in cash and issued 13,283,801 shares in the capital of Cachee shares valued at a price of $0.08.
- In addition, Cachee granted to Silver Elephant a net smelter royalty equal to 0.5% applicable after the commencement of commercial production if the V205 Flake 98% price per pound exceeds $12.00/lb.
- NSR may be purchased back by Cachee at any time for $500,000 in cash.
- SILEF is +0.724638% to $0.2085
- Source: Press Release
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Silver Elephant announces sale of non-core Titan project for $1.29M