TRU Precious Metals Continues Consolidation of Golden Rose Project
Fredericton, New Brunswick – November 15, 2021 –TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce it has entered into an asset purchase agreement (the “Purchase Agreement”) to acquire 100% ownership of a mineral license covering 200 hectares (the “Property”) contiguous with the Company’s flagship Golden Rose Project (“Golden Rose”) in the Central Newfoundland Gold Belt, along with related permits and technical data (collectively, the “Purchased Assets”).
Pursuant to the Purchase Agreement, the vendor will receive the following consideration from TRU for the Purchased Assets: (i) $25,000 in cash; (ii) 135,000 common shares in the capital of TRU (“TRU Shares”) at a deemed price of $0.16 per TRU Share; and (iii) the granting by TRU of a 2.0% net smelter returns royalty from any future mineral production on the Property, of which 1.0% can be repurchased by TRU for $1,000,000. All TRU Shares issuable under the Purchase Agreement will be subject to a hold period expiring four months and one day from the date on which such TRU Shares are issued.
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction is expected to be completed as soon as is practicable based on governmental claims transfer processing times and remains subject to regulatory approval by the TSX Venture Exchange. The transaction is an “arm’s length transaction” as defined in the policies of the TSX Venture Exchange and no finder fees are being paid in connection therewith.
The Company also announces that, separately, it has staked two additional mineral licenses covering 1875 hectares contiguous with Golden Rose.
Joel Freudman, Co-Founder and CEO of TRU, commented: “With soil sampling and geophysical surveying continuing to yield encouraging results, and drilling ongoing as we await initial assays, these tuck-in acquisitions of prospective ground round out TRU’s existing district-scale land package at Golden Rose. As we learn more about the geology of the area as our drilling program unfolds we are commensurately becoming more enthusiastic. The Company continues to execute on its TRU Vision 2021 strategy first announced on June 15, 2021.”
Barry Greene, P.Geo. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt, and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and earlier-stage properties in the region. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: IR@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Company’s ability to complete the acquisition of the Purchased Assets, exploring the Property and the prospectivity of the Property. These statements are based on numerous assumptions regarding the Purchased Assets and the execution and success of exploration plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Property and/or the Company’s mineral exploration properties; the exploration potential of the Company’s properties and the nature and style of mineralization at same; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.