• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Gold Market
    Gold News
    Gold Stocks
    • Gold Market
    • Gold News
    • Gold Stocks

    Wealth Minerals Terminates Option Agreement With Balmoral Resources

    Teresa Matich
    Mar. 07, 2016 08:34AM PST
    Gold Investing

    Balmoral Resources (TSX:BAR) reported that the company will retain a 100 percent interest in its N1 and N2 gold properties, as its option agreement with Wealth Minerals (TSXV:WML) has been terminated. Welath has chosen to focus on opportunities in the lithium space.

    Balmoral Resources (TSX:BAR) reported that the company will retain a 100 percent interest in its N1 and N2 gold properties, as its option agreement with Wealth Minerals (TSXV:WML) has been terminated. Welath has chosen to focus on opportunities in the lithium space.
    As quoted in the press release:

    Balmoral and Wealth have entered into an Agreement (the “Termination Agreement”) whereby Wealth will settle certain obligations originally contemplated under the Option Agreement by making to Balmoral certain cash and/or common share payments in installments between April 1 and October 1 of 2016. Any common shares to be delivered under the terms of the Termination Agreement shall be valued at the average price of Wealth’s common shares for the proceeding 20 trading days and maybe subject to prior approval of the TSXV and standard hold provisions. Balmoral received a payment of 1,000,000 common shares of Wealth in February of 2015 and currently retains 425,000 shares for investment purposes.

    Balmoral president and CEO, Darin Wagner, said:

    Given the rising tide in the gold market, in particular in relation to gold opportunities in Canada, we are pleased to get the N1 and N2 properties back unencumbered. This provides Balmoral with the flexibility to find an alternative path to advance the properties while having captured some benefit for the shareholders over the last 12 months.

    Click here for the full press release.

    tsxv:wmlcanadatsx:bartermination agreementbalmoral resources
    The Conversation (0)

    Go Deeper

    AI Powered
    Wealth Minerals Issues Clarifying News Release

    Wealth Minerals Issues Clarifying News Release

    alset marketing

    Benton Resources

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
      • Electric Vehicles
    • Agriculture
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Energy
      • Uranium
      • Oil and Gas
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Robotics
      • Crypto
      • Cleantech
    Life Science
      • Biotech
      • Cannabis
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES