Northera Resources Ltd. signed a letter of intent to acquire Nickel King Property from Cornish Metals Inc. (TSXV:CUSN) for CAD 8 million on June 16, 2024. The consideration consist of: non-refundable cash payment of CAD 0.1 million within five days of signing the Agreement, cash payment of CAD 0.9 million within 95 days of signing the agreement, Northera will issue Cornish Metals common shares in the capital of Northera having an aggregate market value equal to CAD 7 million.
Richard Morrison, Charlie Bouverat, Grant Barker of SP Angel Corporate Finance LLP acted as financial advisor and Matthew Hasson, Andrew Chubb, Jay Ashfield of Hannam & Partners (Advisory) LLP acted as financial advisor to Cornish Metals Inc.