1459988 BC Ltd entered into a binding term Sheet to acquire Finland Mineral Permits from NewPeak Metals Limited (ASX:NPM) for CAD 4.3 million on February 19, 2024. Upon execution of the Transaction Documents, NewPeak will receive CAD 0.1 million cash and CAD 1 million shares in 1459988 BC. CAD 0.15 million cash within 6 months, and CAD 0.25 million within 12 months.

A milestone payment will be paid to NewPeak of CAD 1.5 million in cash or shares on reporting a JORC Indicated 500,000 Oz Gold resource at any of the tenements. CANCO will also assume all obligations in respect of the current milestone payment commitment to Sunstone Metals Ltd of CAD 1.320152 million payable as cash upon delivery of a JORC Indicated 500,000 Oz Gold resource from any of the Kultatie Holding Oy permits. The transaction is subject to CANCO being satisfied with the results of their due diligence, CANCO and NewPeak obtaining all relevant authorisations and third-party approvals and consents to the transaction, If required, CANCO or NewPeak obtaining shareholder approval for the issue of their company shares, Entry into the Transaction Documents satisfactory to each party and Obtaining written consent from Sunstone Metals regarding the transaction including execution of a Deed of Assumption by CANCO.

The transaction is expected to complete by March 31, 2024.