TRU Precious Metals Signs Definitive Agreement for Drill-Ready Twilite Gold Project
FREDERICTON, New Brunswick, Oct. 29, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”).
Pursuant to the Definitive Agreement, the Company will indirectly purchase 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project (“Twilite”), along with all related permits and technical data (collectively, the “Purchased Assets”). For further details on the Definitive Agreement, please see the Company’s October 14, 2020 press release, which sets out the terms of the proposed transaction as set forth in the binding letter of intent between TRU and the Vendor dated October 13, 2020, which terms are substantially reflected in the Definitive Agreement.
TRU Co-Founder and CEO Joel Freudman commented, “When we close this transaction, Twilite will become the most advanced asset in our Newfoundland Gold Exploration portfolio. Meanwhile, we’re already working with our recently-formed Technical Committee to plan and budget for third-party exploration work at Twilite over the winter, to enhance the value of this property.”
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction will 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.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
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 Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
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 acquiring, exploring, and monetizing Twilite and the Company’s other mineral exploration investments in Newfoundland. These statements are based on numerous assumptions regarding the Purchased Assets that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration or monetization potential of the Purchased Assets and specifically Twilite; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; 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.