Naughty Ventures Corp. Enters into Strategic Option Agreement with Sorrento Resources to Advance Rare Earth Element Property

Core Viewpoint - Naughty Ventures Corp. has entered into a strategic option agreement with Sorrento Resources to advance the Bottom Brook rare earth element property, allowing Naughty Ventures to unlock value while becoming a significant shareholder of Sorrento [1][2][3] Agreement Details - The option agreement allows Sorrento to acquire up to 100% of Naughty Ventures' interest in the Bottom Brook Property, with the option exercisable within three years [4][8] - Sorrento is responsible for all exploration activities on the property during the term of the agreement [8] - The agreement includes specific cash payments and share issuances over the three-year period, with a total of CAD 1,000,000 due within 12 months, CAD 1,500,000 within 24 months, and additional share issuances [6][7] Financial Implications - Naughty Ventures will receive 13 million Sorrento shares upon closing, representing a 49% interest, and will maintain a 20% free carried interest until Sorrento fulfills the final interest option [6][7] - A finder's fee of 10% on cash payments and share issuances is payable to Kluane Capital FZCO [9] Company Background - Naughty Ventures Corp. focuses on acquiring and developing mineral assets with strong value potential and holds interests in various projects, including the Bottom Brook rare earth property [10] - Sorrento Resources Ltd. is engaged in the acquisition and exploration of mineral properties in Canada, with a focus on precious and base metals [11]