LONGUEUIL, Quebec, May 02, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV:AZM) (OTCQX:AZMTF) is pleased to announce the signing of a Sale and Purchase Agreement (the "Agreement") with Patriot Battery Metals Inc. ("Patriot") (TSX:PMET, ASX:PMT)) for its wholly-owned JBN-57 Property (the "Property"), in the Eeyou Istchee James Bay region of Quebec (see Figures 1 and 2).
Under the Agreement, Patriot has acquired a 100% interest in the Property from Azimut for a cash payment of $500,000 and the issuance of 150,000 shares of Patriot. Azimut will retain a 2.0% NSR royalty on the Property. The parties were dealing at arm's length. The monetization of this claim block in ...