Right of First Refusal
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Metal Energy Announces Right of First Refusal Agreement on Remaining 20% Interest in NIV
Newsfile· 2025-11-19 12:00
Core Viewpoint - Metal Energy Corp. has entered into a right of first refusal agreement for the remaining 20% interest in the NIV and West NIV properties, enhancing its long-term ownership strategy in a promising copper-gold porphyry target in British Columbia [2][3]. Group 1: Right of First Refusal Agreement - The ROFR Agreement allows Metal Energy to purchase the remaining 20% interest on the same terms as any third-party offer, providing a mechanism to consolidate 100% ownership in the future [4][7]. - If a bona fide third-party offer is received, Metal Energy has 45 days to elect to acquire the remaining interest under the same terms [4]. - The agreement includes the issuance of 600,000 common shares at a deemed price of $0.47 per share, subject to TSX Venture Exchange approval [5][6]. Group 2: Project Details - The NIV property is characterized as a fully permitted, drill-ready copper-gold porphyry target with extensive high tenor copper and gold anomalies [7]. - The property is located in the Toodoggone District, which has geological similarities to the Kemess mine and recent discoveries like Aurora and Aurora West [7]. - Metal Energy's portfolio now includes three high-potential projects, with NIV being a significant addition [8].