Green Shift Commodities (TSE:GCOM) has released an update.
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Green Shift Commodities Ltd. has successfully completed the sale of its subsidiary, which holds a 1% NSR royalty on the Berlin Project, to AcquireCo, a privately-held royalty company. The deal saw Green Shift receiving 12 million shares of AcquireCo, valued at C$0.25 each, totaling C$3 million in consideration. Additionally, Green Shift secured the right to appoint a director to AcquireCo’s board and obtained pre-emptive rights to maintain its ownership stake through future equity financings.
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