Damara Gold Corp. (TSXV:DMR) entered into purchase agreement to acquire VanLab Vanadium Property for CAD 0.2 million on December 21, 2022. As part of consideration, Damara will issue an aggregate of 4,000,000 units at an exercise price of CAD 0.25 for a period of thirty-six (36) months from Closing.
Damara will grant to the Seller of a 2% net smelter return royalty (the NSR Royalty on Closing. The deal is Subject to TSX Exchange (the Exchange) approval. As of December 28, 2022, Damara received TSX Venture Exchange approval.