Nord Precious closes acquisition of Gowganda claims

Executive Summary

• Nord Precious Metals Mining Inc. completed the acquisition of four mining leases comprising the Gowganda silver camp in Ontario from Battery Mineral Resources Corp. (via its subsidiary North American Cobalt Inc.).
• The transaction involves a mix of cash, equity, royalties, and deferred payments, with completion subject to final TSX-V approval.
• The acquisition expands Nord's portfolio into the historic Gowganda silver camp, complementing its existing operations and processing capabilities.

Key Details

• Target Assets: Four mining leases (LEA-109391 to LEA-109394) comprising the Gowganda property in Ontario.
• Counterparties: Acquired from North American Cobalt Inc. (NACI), a wholly-owned subsidiary of Battery Mineral Resources Corp.
• Transaction Structure & Consideration:
  • Upfront Cash: $1,000,000 paid on the closing date.
  • Equity Issuance: 4,401,408 common shares issued to Battery Mineral Resources on behalf of NACI at a deemed price of $0.284 per share.
  • Royalty: A 3.0% net smelter returns (NSR) royalty on the Gowganda property.
  • Deferred Consideration: $1,250,000 payable on each of the first, second, and third anniversaries of closing (totaling $3,750,000).
• Deferred Payment Terms:
  • Nord has the option to satisfy up to 50% of each deferred payment in shares.
  • Share price for deferred payments is the greater of: (i) the 25-day VWAP on the TSX-V ending the day before the payment date, or (ii) the minimum price permitted by the TSX-V.
  • Maximum share limit for deferred consideration: 10,938,610 shares. Any balance exceeding this limit must be paid in cash.
  • Shares issued for deferred consideration are subject to a statutory hold period of four months and one day.
• Regulatory Status: Completion is subject to final approval of the TSX Venture Exchange (TSX-V).
• Agreement Details: The closing was pursuant to an amended and restated asset purchase agreement dated March 31, 2026, amending the original agreement dated January 5, 2025.

Notable Quotes

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