Boreal Metals Corp. (“Boreal” or the “Company”) (TSXV:BMX) is pleased to announce the execution of a definitive agreement (the “Agreement”) with EMX Royalty Corporation (“EMX”) (NYSE American: EMX, TSXV: EMX) for the acquisition of the Guldgruvan cobalt project (“Guldgruvan” or the “Project”) by Boreal Energy Metals Corp. (“BEMC”), a newly created and wholly owned subsidiary of Boreal.
As quoted in the press release:
“Boreal continues its exploration project growth strategy with the addition of the Guldgruvan Project. Through the acquisition of two significant past producing cobalt assets, Boreal is well positioned in the region as Scandinavian Battery Companies are moving forward to lead Europe’s emerging battery production sector,” stated Karl Antonius, President and CEO. “Boreal believes the acquisition delivers significant benefits to its shareholders. Guldgruvan complements the previously announced acquisition of Modum, which combined further builds the foundation for Boreal’s strong base metal and cobalt exploration in Scandinavia.”