Candente Copper (TSX:DNT) has completed a NSR between two of its subsidiaries and an affiliate of Entrée Gold (TSX:ETG,NYSEMKT:EGI).
Pursuant to these agreements, the Company has granted a royalty for a 0.5% net smelter return (“NSR”) on its wholly-owned Cañariaco Copper Project in Peru, in exchange for the aggregate sum of US$500,000.
The aggregate sum of US$500,000 was received from Entrée upon the successful registration of the Royalty Agreements in Peru. Funds will be used for general corporate purposes and activities at the Cañariaco Project including community related activites.
Candente CEO, Joanne Freeze, said:
Candente is very pleased to complete the Royalty Agreements that secure financing for the Company while minimizing dilution to share capital. Management continues to focus on minimizing expenditures during this extended period of low metal prices.