Core Viewpoint - Oracle Commodity Holding Corp. and CleanTech Vanadium Mining Corp. have amended their royalty agreement to include the Quarant Fluorspar Project in Kentucky, enhancing Oracle's revenue potential from this project [1][2]. Group 1: Royalty Agreement Details - The Second Amending Agreement expands the Royalty Agreement to include the Quarant Fluorspar Project, with Oracle entitled to a 2% net smelter return royalty on minerals produced and sold from the properties, subject to a minimum of US$6 per tonne [2]. - Oracle will make non-refundable cash payments equal to 20% of the cash consideration that CleanTech's subsidiary, USF, has paid or will pay to acquire the properties, contingent upon TSX Venture Exchange approval [3]. - For the Quarant Fluorspar Project, Oracle will pay USF 20% of US$210,000 over two years, with payment details outlined in CleanTech's acquisition news release [4]. Group 2: Company Relationships and Compliance - Oracle is a control person of CleanTech, holding 42,799,502 common shares, making them related parties under Multilateral Instrument 61-101 [5]. - Both companies intend to rely on exemptions from formal valuation and minority approval requirements as per MI 61-101 [5]. Group 3: Company Overview - Oracle Commodity Holding Corp. is a mining royalty company that holds royalties on several precious metal and critical mineral mining projects [6].
Oracle and CleanTech Further Amend Royalty Agreement to Include Quarant Lease Properties in Kentucky, USA