Nortec Minerals Corp. Enters into Second Amendment Agreement with Finore Mining Inc. to Transfer Remaining 30% of Läntinen Koillismaa Project

 Nortec Minerals Corp. (TSXV:NVT) announced that the Company has entered into a second amendment agreement with Finore Mining Inc. to transfer the remaining 30% interest in the Läntinen Koillismaa Project to them.

As quoted in the press release:

Under the terms of the Second Amendment Agreement, Finore will have the option to earn 100% interest in the Property upon completion of the following:
– issuing 41,000,000 Shares to Nortec within five (5) business days of signing the Second Amendment Agreement and completing the required filings with the Canadian National Stock Exchange (the “CNSX”) for the issuance of such common shares;
– paying in full any amounts owed by Finore to third parties, whether incurred directly or indirectly, with respect to exploration expenditures incurred on the Property; and
– granting Nortec the right to nominate two persons for appointment or election to Finore’s Board of Directors.
Furthermore, if Finore completes all of its obligations above and issue an additional 917,707 Shares to Nortec, Finore will deem to have exercised the option to acquire 100% interest in the Property.

Nortec Minerals Corp. CEO, Mohan R. Vulimiri said:

With this Second Amendment Agreement, subject to the underlying royalties, Nortec will become the largest shareholder of Finore with 60% ownership. Nortec will provide all corporate and technical guidance and assistance to bring the LK project to fruition into a substantial palladium-platinum-gold-copper-nickel resource in a world class district.

Click here to read the Nortec Minerals Corp. (TSXV:NVT) press release
Click here to see the Nortec Minerals Corp. (TSXV:NVT) profile

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Bullion
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Otis-Gold-LogoOtis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.

Leave a Reply