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Champion Electric Announces Sale of Champion Lithium Project
TMX Newsfile· 2025-12-29 22:00
Core Viewpoint - Champion Electric Metals Inc. has entered into an agreement to sell its wholly owned Champion Lithium Project for a total cash consideration of USD $1,000,000, aiming to streamline operations and focus on future development opportunities [1][2][3]. Group 1: Transaction Details - The Buyer, a non-arm's length party and a director of the Company, will acquire the Champion Lithium Project located in Quebec [1][3]. - The transaction is subject to regulatory approvals, including from the Canadian Securities Exchange [2]. - The cash consideration will be utilized for reducing liabilities, enhancing working capital, and advancing strategic corporate initiatives [2]. Group 2: Corporate Governance - The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, with the Company relying on exemptions from certain requirements due to the transaction's fair market value being below CAD $2,500,000 [3][4]. - The board of directors, excluding Mr. Gabirel Pindar, approved the transaction without establishing a special committee, and no dissenting views were expressed [4]. Group 3: Company Overview - Champion Electric is focused on exploration, holding copper, gold, and cobalt properties in Idaho, including the Champagne polymetallic project and the Baner gold project [5]. - The Company emphasizes responsible environmental stewardship and community engagement in its operations [6].
Oracle Commodity Holding Clarifies Terms of Amended Coal Royalty Amendments
Newsfile· 2025-11-19 22:21
Core Viewpoint - Oracle Commodity Holding Corp. has clarified its amended net smelter return (NSR) royalty agreements with Silver Elephant Mining Corp., which were initially announced on August 29, 2025, at the request of the TSX Venture Exchange [1]. Group 1: Amended Agreement Details - Under the Amended Agreement, the coal royalty from Silver Elephant's Mongolian coal projects to Oracle Commodity Holding is set at the greater of US$2 per tonne or 3% of NSR, based on the average spot sales price of coal [2]. - The previous royalty of 5% NSR under the original agreement was calculated on an actual sales-price basis, including discounts. The Amended Agreement replaces this with a 3% NSR royalty based on the average spot price, aligning with market conventions and simplifying the pricing methodology without materially altering its economic effect [3]. Group 2: Related Party Disclosure - Silver Elephant is a control person of Oracle Commodity Holding, making the amended royalty agreements "related party transactions" under Multilateral Instrument 61-101. Oracle Commodity Holding relied on available exemptions from the formal requirements under MI 61-101 for these agreements [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].
Falco Announces Extension of Its Senior Debts
Globenewswire· 2025-10-31 11:00
Core Viewpoint - Falco Resources Ltd. has entered into binding agreements to extend the maturity dates of its existing debts with OR Royalties Inc. and Glencore Canada Corporation, providing the company with additional flexibility for the development of the Horne 5 Project [1][2]. Summary by Sections Agreements and Extensions - The maturity date of the OR Royalties Loan has been extended from December 31, 2025, to December 31, 2026 [1]. - The maturity date of the Glencore Debenture has also been extended from December 31, 2025, to December 31, 2026 [1]. Amendments to Loans - For the OR Royalties Loan, the principal amount will be approximately $26,098,521, with a conversion price maintained at $0.45 per Common Share and an interest rate of 9% [2]. - For the Glencore Debenture, the principal amount will be approximately $15,433,754, with a conversion price maintained at $0.37 per Common Share and an interest rate of 10% [3]. Warrants Issuance - Falco will issue 19,332,237 New OR Royalties Warrants to OR Royalties, exercisable at $0.58 per Common Share, expiring on December 31, 2026 [2]. - Falco will issue 21,381,422 New Glencore Warrants, with exercise prices of $0.38 and $0.42 per Common Share, expiring on December 31, 2026 [3]. Related Party Transactions - The transactions with OR Royalties are considered "related party transactions" and require minority approval from shareholders [4][5]. - The closing of these transactions is conditional upon obtaining minority approval, TSX Venture Exchange approval, and concurrent closing of the Glencore Debenture Amendments [5][6]. Company Background - Falco is one of the largest mineral claim holders in Québec, with rights to approximately 67,000 hectares in the Noranda Mining Camp, including the Horne 5 project, which has historical production of 11.6 million ounces of gold and 2.5 billion pounds of copper [9].
Oracle Commodity Holding and Silver Elephant Amend Existing Coal and Silver Royalty Agreements
Newsfile· 2025-08-29 09:30
Core Viewpoint - Silver Elephant Mining Corp. and Oracle Commodity Holding Corp. have amended and restated net smelter return royalty agreements for Silver Elephant's Mongolian coal and Bolivian silver properties, replacing previous arrangements [1]. Group 1: Mongolian Coal Properties - The coal royalty has been revised to the greater of US$2 per tonne or 3% of NSR, down from the greater of US$3 per tonne or 5% of NSR [2]. - Silver Elephant will guarantee coal royalty payments on behalf of its Mongolian subsidiaries [2]. Group 2: Bolivian Silver Properties - Silver Elephant is recognized as a control person of Oracle, making them related parties under Multilateral Instrument 61-101 [3]. - The amended royalty agreements are classified as "related party transactions" under MI 61-101, with both companies intending to rely on exemptions from formal valuation and minority approval requirements [3]. - The silver royalty is now based on 2% of 70% of the gross metal value of sold materials, reduced from 2% of 100% [7]. - The threshold silver price of $30 per ounce has been removed, meaning the silver royalty is payable regardless of the silver price [7]. - Silver Elephant will also guarantee silver royalty payments on behalf of its Bolivian subsidiaries [7].
Traction Uranium Announces Securities for Debt Settlement
Globenewswire· 2025-08-06 23:10
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) (the "Company" or "Traction") announces that it has entered into debt settlement agreements (the "Agreements") with a director, an officer, and a consultant of the Company, respectively. Pursuant to the Agreements, the Company has agreed to settle debts in the aggregate amount of $283,400 through the issuance of 1, ...