(All dollar amounts are America dollars unless otherwise stated)
Vancouver, British Columbia, April 10, 2023 /CNW/- Nova Loyalty Corporation (“Nova” or “company“) (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce in addition to the dated news release. March 13, 2023acquisition completed (“transaction“) Additional 0.03% net smelter income (“NSR“) royalty (“additional royalties“) About the Copper World Complex Project (“copper world“) Arizona, USAowned by Hadbay Minerals, Inc. (TSX: HBM) (NYSE: HBM). Nova currently holds his 0.165% NSR royalties in Copper World and holds a first veto over his additional 0.510% NSR royalties in Copper World.
The total purchase price for this transaction includes: $340,000 cash and $170,000 Nova common stock (“Consideration stock), Nova issued 161,307 shares of consideration stock. $1.4551 per share of consideration calculated based on the 20-day volume-weighted average trading price of Nova’s common stock March 10, 2022.
Additional $890,000 Please pay in cash as follows.
- $150,000 Payable in cash within 12 months after closing.and
- $740,000 (i) 12 months after the announcement of the start of production from the Loyalty Area; (ii) receipt by Nova of his first three payments under additional royalties;
Other terms of the transaction are as disclosed in Nova’s news release date. March 13, 2023.
Nova also completed a previously announced drawdown (“drawdown“) Additional 1.5 million Canadian dollars (“Drawdown amount“) Beedie Capital (“Beedy Capital Facility“). The drawdown ensures that the total amount withdrawn in the Beedie Capital Facility is 9.5 million Canadian dollars,In addition 15.5 million Canadian dollars still available to us. Proceeds from the drawdown will be used for royalty acquisitions and general corporate purposes.
The drawdown amount is convertible by Beedie Capital into 840,241 shares of our common stock at the conversion price. $1.7852 This is the TSX Venture Exchange (“TSXV“) in calculations March 9, 2023in accordance with the terms of the Beedie Capital Facility.
CFO transition update
Continuation of our news release February 23, 2023the company is pleased to announce that Hasim Ahmed I have officially assumed the role of Nova’s CFO. March 27, 2023.
ATM program updates
during the quarter ended March 31, 2023Nova distributed 1,034,400 shares of our common stock (“stock“) Under the market equity program, the average price is $1.45 per share 1,499,880 Canadian dollars. cash fee $37,497 Paid to the agent, the net profit is 1,462,383 Canadian dollarsThis distribution was completed on March 2023 It is also disclosed as part of the company’s financial update in the closed 3-month and 12-month management discussion and analysis. December 31, 2022submitted to sedar.com March 23, 2023.
About Nova
Nova Royaly Corp. is a copper-focused royalty company. Nova has built a royalty portfolio on a significant portion of next-generation major copper projects in Tier 1 jurisdictions, giving investors access to some of the most important resource assets for the clean energy transition. provides exposure to These projects are First Quantum, Lundin Mining, Hudbay, anglo american such as glencore.Head office location Vancouver, British Columbia It is listed on the TSX Venture Exchange under the trading symbol ‘NOVR’ and on the US OTCQB under the trading symbol ‘NOVRF’.
On behalf of Nova Loyalty Corporation,
(Signed) ‘Alex Tschernik’
President and Chief Executive Officer
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. The forward-looking statements contained herein are made only as of the date of this press release and the Company does not, except as necessary, make assumptions about new information, estimates or opinions, future events or results, or We undertake no obligation to update or modify them to reflect any other. Subject to applicable law. Often, but not always, forward-looking statements are referred to as “plans,” “anticipates,”“plan”, “estimate”, “forecast”, “forecast”, “plan”, “intend”, “goal”, “goal”, “anticipate”, “believe”, or variations of such words or phrases ( negative variations) or that a particular action “could,” “could,” “should,” “could,” “could,” or ” It may be identified by a statement to the effect that “may”. Releases may include any contingent payments related to the transaction, potential future commercial production, collections, and other anticipated or future developments of the Copper World project, frequency of additional royalty payments, and use of proceeds. , but not limited to: Drawdowns Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond Nova’s ability to control or predict, and may not represent Nova’s actual results, performance or achievements. may differ significantly from what is stated. It is based on assumptions regarding these risks, uncertainties and other factors mentioned in this document. March 23, 2023 can be found in the company profile of www.sedar.comSuch forward-looking information represents management’s best judgment based on currently available information. Except as required by applicable securities laws, we undertake no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change. shall be Forward-looking statements cannot be guaranteed and actual future results may differ materially. Readers are therefore advised not to place undue reliance on forward-looking statements or information.
