Nova Royalty Files Interim Financial Statements for Q2 2021, Completes Acquisition of Aranzazu Copper Mine Royalties from Aura Minerals Inc. and Company Update
(All dollar amounts are in United States Dollars unless otherwise indicated)
VANCOUVER, BC, August 27, 2021 / CNW Telbec / – Nova Royalty Corp. (“Nova“or the”Society“) (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that, following its press release of August 16, 2021, it finalized its acquisition (the “Transaction“) from Macocozac, SA de CV an existing royalty of 1.0% on the net return of the smelter (the”Royalties“) on the Aranzazu copper-gold-silver mine at Zacatecas, Mexico (“Aranzazu“), which is 100% owned by Aura Minerals Inc. (TSX: ORA) (“Will have“).
The overall purchase price of the Transaction included $ 8.0 million in cash and $ 1.0 million in common shares of Nova (“Counterpart actions“), of which Nova issued 388,093 counterpart shares to $ 3.26 per counterpart share (calculated based on the ten-day volume weighted average price of Nova common stock up to August 26, 2021). The Company intends to file a prospectus supplement to its base shelf prospectus dated October 30, 2020 to qualify the distribution of the Counterparty Shares to the Seller. The other terms of the transaction were disclosed in Nova’s press release dated August 16, 2021.
Nova agreed to pay finder’s fees to Antares Capital Management, an arm’s length person, totaling 180,000 USD based on a cash mix and 35,218 Nova Common Shares at Closing (calculated using the five-day volume weighted average price of Nova Common Shares at Closing), subject to acceptance by the TSX Venture Exchange.
Financial results for the closed semester June 30, 2021
Nova announced its financial results for the second quarter ended June 30, 2021. Copies of Nova’s interim financial statements and MD&A for the six months ended June 30th, 2021 are available on the Nova website at www.novaroyalty.com and on SEDAR at www.sedar.com.
Nova has granted 2,630,000 stock options to certain officers, directors, employees and consultants to purchase 2,630,000 common shares under the Company’s amended and restated stock compensation plan. Each option grant is acquired in two equal installments, twelve and twenty-four months from the date of issue. Each option is exercisable, once acquired, for a period of five years from the grant date at an exercise price of CA $ 3.30 per common share.
Following the Company’s press release dated June 18, 2021 announcing the acquisition of a 1.0% royalty on the net proceeds payable on the West Wall copper-gold-molybdenum project in Chile, Nova will pay finder’s fees to TDM, LLC, an arm’s length individual, totaling 30,748 common shares of the Company.
Nova is a royalty company that aims to provide investors with exposure to the key building blocks of clean energy – copper and nickel. The Company is headquartered at Vancouver, British Columbia and is listed on the TSX Venture Exchange under the symbol “NOVR” and on the US OTCQB under the symbol “NOVRF”.
ON BEHALF OF NOVA ROYALTY CORP.,
(signed) “Alex Tsukernik”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TECHNICAL AND THIRD PARTY INFORMATION
Unless otherwise indicated, the disclosure in this press release regarding the Aranzazu Mine is based on information publicly disclosed by Aura, as the owner and operator of the property and information / data available in the public domain as of the date of disclosure. present and none of this information has been independently verified by Nova. Specifically, as a royalty holder, Nova has limited or no access to the property subject to the royalty. While Nova does not know that this information may not be accurate, there can be no assurance that this third party information is complete or accurate. Certain information made public by the operator may relate to a property larger than the area covered by the royalty. Nova’s royalty rights often cover less than 100% and sometimes only a portion of a property’s publicly declared mineral reserves, mineral resources and production.
Caution regarding forward-looking statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. The forward-looking statements contained herein are made as of the date of this press release only, and the Company assumes no obligation to update or revise them to reflect new information, estimates or opinions, events or future results. or otherwise, unless required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is planned”, “budgets”, “planned”, “estimates”, “forecasts”. “,” Predicts “,” plans “,” intends “,” aims “,” aims “,” anticipates “or” believes “or variations (including negative variations) of these words and expressions or may be identified by statements that certain actions “may”, “could”, “should”, “would”, “could” or “will” be taken, occur or be achieved. The forward-looking information contained in this press release press includes, without limitation, exploration and expansion potential, production, recoveries and other anticipated or possible future developments at the Aranzazu mine, current commodity prices, frequency of payment of the fee, the acceptance by the TSX Venture Exchange of the transaction, current and future estimates potential of mineral reserves and resources; future commercial production from the Aranzazu mine or other designated areas; and obtaining any regulatory approvals required for royalty acquisitions. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond Nova’s ability to control or predict, which may cause Nova’s actual results, performance or achievements to differ materially from those expressed or implied. as such, and are prepared on the basis of assumptions regarding those risks, uncertainties and other factors set forth herein, including, but not limited to, the risk factors set forth under the heading “Risk Factors” in the package leaflet. annual of the Company dated April 30, 2021 available for review on company profile at www.sedar.com. This forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements in the event that the beliefs, estimates or opinions of management, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary significantly. Therefore, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Nova Royalty Corp.
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