Victoria Gold (TSE:VGCX) has released an update.
Victoria Gold Corp. has finalized the sale of their Clear Creek Property to Sitka Gold Corp., which adjoins Sitka’s RC Gold Project in Yukon. In the transaction, Victoria receives an initial payment in Sitka common shares and will benefit from future deferred cash payments and royalties, including a significant net smelter return royalty. The deal also includes provisions for additional payments contingent on Sitka delineating certain gold reserves, and grants Victoria the right to nominate a director to Sitka’s board if their ownership exceeds 15%.
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