Exploration PotentialFollowing the closing of the transaction, Exploits will shift its focus exclusively to its Ontario and Quebec assets, which together host 680Koz of historical gold resources with substantial expansion potential.
Financial PositionThe deal provides Exploits with up to $8.8M in value, including $7.0M in NFG shares based on the 20-day VWAP, a 1% NSR royalty on the Bullseye and Gazeebow claims, and an additional $1.8M in contingent shares tied to disputed claims.
Strategic TransactionExploits has agreed to sell its Newfoundland mineral claims to New Found Gold for up to $8.8M, including $7.0M in shares and a 1% NSR royalty.