/NOT FOR DISTRIBUTION TO
Further to the Company's new release dated
Franco-Nevada has also been granted the option to purchase an additional 0.5% gross production royalty upon the decision by Scottie to proceed with construction of a project or acceptance by Scottie of a project study on its properties (the "Additional Royalty"). The purchase price in respect of the Additional Royalty will be determined at the time of exercise based on a net present value calculation at consensus commodity prices. Franco-Nevada has been further granted a right of first refusal to purchase any new royalty, streaming or similar interest in Scottie's properties which is offered to be purchased by a third party. Any such subsequently granted interest, as well as the Additional Royalty, may be subject to the approval of the
In addition, Scottie has closed a charity flow-through private placement of 5,422,994 flow-through common shares of the Company for additional gross proceeds to Scottie of
President and CEO,
The Transaction remains subject to final
ABOUT
Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the
The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.
All of the Company's properties are located in the area known as
Neither
Cautionary and Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the Company's plans to complete a comprehensive 2024 exploration program, the use of proceeds from the Private Placement and the receipt of final approval of the
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Private Placement; recent market volatility; the state of the financial markets for the Company's securities; and the risk that the Company will not use the proceeds of the Private Placement or complete its comprehensive 2024 exploration program as anticipated.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the Private Placement.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE
© Canada Newswire, source