Precious Metals

NSX Silver (TSXV:NSY.H) (“NSX Silver” or the “Company”) announces that it has entered into a letter of intent with Village View Limited Partnership No.1 to acquire all of the real property located at 41 Noel Avenue, Saint John, New Brunswick (“41 Noel Avenue”). 41 Noel Avenue is a multi-unit residential property totaling 31 units. Transaction NSX …

NSX Silver (TSXV:NSY.H) (“NSX Silver” or the “Company”) announces that it has entered into a letter of intent with Village View Limited Partnership No.1 to acquire all of the real property located at 41 Noel Avenue, Saint John, New Brunswick (“41 Noel Avenue”). 41 Noel Avenue is a multi-unit residential property totaling 31 units.
Transaction

NSX Silver will acquire 41 Noel Avenue for an aggregate purchase price of $4,900,000 subject to adjustments at closing. NSX Silver will assume collateral mortgages currently held by Village View Limited Partnership No.1 in the aggregate amount of $3,166,000 with the balance of the purchase price payable in cash from the proceeds of a private placement financing that NSX Silver expects to complete concurrent with the closing of this transaction.

Change of Business

Completion of the Transaction as contemplated would constitute a change of business (“COB”) in accordance with TSX Venture Exchange Policy 5.2., Changes of Business and Reverse Take-overs, as the Company’s current business is exploration for minerals.
The proposed Transaction would see the Company engage in the ownership and management of multi-unit residential real estate. As a result, the Transaction is subject to Exchange acceptance and will also require the approval of the shareholders of NSX Silver.

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