Calgary, Alberta--(Newsfile Corp. - January 21, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") is pleased to announce that, based on the results of a positive Preliminary Economic Assessment ("PEA") for its newly acquired Thierry Mine Project ("Thierry") near Pickle Lake, Ontario (see press release dated January 14, 2021), the Company has negotiated the repurchase of a 2% Net Smelter Royalty ("NSR") from Cadillac Ventures Inc. ("Cadillac") for a consideration of 2,500,000 common shares of Braveheart. As per the Share Purchase Agreement dated October 21, 2020 and the Share Purchase Amending Agreement dated November 21, 2020, Braveheart was entitled to repurchase 1% of the 2% NSR for $1,000,000. The parties have replaced these terms so that Braveheart can repurchase the entire 2% NSR for 2,500,000 common shares of Braveheart.
Completion of the NSR repurchase is subject to the approval of the TSX Venture Exchange.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable Canadian mining jurisdictions at or near past-producing properties. Braveheart's main asset is the 100% owned Bull River Mine project near Cranbrook, British Columbia which has a current Mineral Resource containing copper, gold and silver. Braveheart's newest acquisition is the 100% owned Thierry Mine project near Pickle Lake, Ontario containing copper, nickel, palladium, platinum, gold and silver.
Braveheart Resources Inc.
President & Chief Executive Officer
For more investor information, please contact Braveheart at:
O: +1-647-725-3888 Ext 702
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72549