Completion of the transaction is subject to customary closing conditions and obtaining all necessary regulatory approvals, including the approval of the
Terms of the Agreement
Under the terms of the First Addendum, RBM will assign and transfer to Resouro 100% of its issued shares in TSPS, totalling 160,000 shares, of
Resouro will issue to RBM 1,642,000 fully paid shares of Resouro ('Common Shares') which will be subject to any applicable hold periods under the policies of the TSXV and under applicable Canadian securities laws, including a four month hold period. If Resouro lists on the
Upon completion of the assignment of all RBM's shares in TSPS to Resouro and the issuance of the Common Shares to RBM, the earn-in will be completed and Resouro will be the holder of 100% of the issued and outstanding shares of TSPS.
In consideration for RBM accelerating the earn-in agreement:
RBM will receive 750,000 performance warrants in Resouro that will be convertible into Common Shares upon completion by Resouro of a Detailed Feasibility Study ('DFS') on the project. The performance warrants will be issued immediately and shall be subject to the applicable hold periods under TSXV policies and Canadian securities laws.
TMEL Equity Interest
Within 15 days from the signature of the First Addendum, TSPS shall transfer such number of shares as is equivalent to 10% (ten percent) of TMEL's total issued share capital to RBM. TSPS will remain 90% holder of TMEL's total issued share capital.
Name Changes of Entities
The Tiros Agreement established that
Brazil Copper Mineracao Ltda ('BCML') would change its company name to Tiros Minerais Estrategicos Ltds ('TMEL').
These alterations are ongoing at the signature of the First Addendum.
Located in
About the Company
Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in
Contact:
Email: chris.eager@resouro.com
Forward-Looking Information
This news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur.. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
(C) 2023 Electronic News Publishing, source