iMetal Resources Inc. (TSXV:IMR) entered into an agreement to acquire Portfolio of Road Accessible Gold Projects Located in Beardmore Geraldton Greenstone Belt from Riverside Resources Inc. (TSXV:RRI) for CAD 1.3 million on February 10, 2021. As part of consideration, iMetal will issue 8 million common shares to Riverside Resources and iMetal will grant a 2.5% net smelter returns royalty on each of the acquired properties, of which 1.5% of the royalty may be acquired by iMetal at any time during the 60 months following closing in consideration for cash payments totaling CAD 7.5 million. iMetal will also pay a one-time bonus payment to Riverside Resources of $500,000, payable in cash or common shares of iMetal at its discretion, if at any time during the 60 months following closing iMetal receives results from any drilling program on the Oakes, Pichette and Longrose properties which indicates the presence of at least 100 gram-metres of gold.

Closing is also conditional of iMetal completing an equity financing of not less than CAD 2.5 million. The transaction is subject to approval of the TSX Venture Exchange.