Rockcliff Assigns Talbot Option Agreement to Norvista Capital for CA$3 million Cash and Royalties

Rockcliff Metals (TSXV:RCLF) has announced that it has agreed to assign its interest in the Talbot Option Agreement and the Talbot Property in Manitoba to Norvista Capital Corporation (TSXV:NVV).

Rockcliff will assign its interest to Norvista for total cash consideration of CA$3 million and an additional 0.5 percent net smelter royalty (NSR) on the nearby Norvista owned Tower copper property that is slated for production in 2020.

As quoted in the press release, president and chief executive officer of Rockcliff Ken Lapierre said:

“Completing this transaction with Norvista for cash and royalties on two separate properties will strengthen Rockcliff’s treasury and add royalties to properties that have an excellent chance of providing future royalty cash flow to the Company. The CA$3 million cash we will receive over the next few years allows us to generate exploration dollars without dilution to Rockcliff’s shareholders. Also, the additional 0.5 percent NSR Tower Property royalty adds to our existing 1.5 percent NSR Tower royalty and will increase our royalty cash payments beginning in 2020 when the Tower property is slated for commercial production. Monetization of a number of properties in our extensive property portfolio validates the company’s operating strategy and provides cash and royalty streams as a non-dilutive complement to our equity financings. The CA$3 million will assist Rockcliff in funding future exploration efforts on our remaining 100 percent owned properties in an effort to unlock additional significant value for our shareholders through the growth and advancement of these high-grade base metal and gold assets.”

Click here to read the full Rockcliff Metals (TSXV:RCLF) press release.