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BRIEF-Chalice Sells Its Quebec Gold Projects For C$12 Mln In Shares And Retains A Royalty

Published 2019-07-02, 08:57 a/m
© Reuters.  BRIEF-Chalice Sells Its Quebec Gold Projects For C$12 Mln In Shares And Retains A Royalty
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July 2 (Reuters) - Chalice Gold Mines Ltd CHN.AX :

* PRESS RELEASE - CHALICE SELLS ITS QUEBEC GOLD PROJECTS FOR C$12 MILLION IN SHARES AND RETAINS A ROYALTY

* CHALICE GOLD MINES - WILL RECEIVE 3.1 MILLION COMMON SHARES OF O3 MINING, AT A DEEMED VALUE OF C$3.88/COMMON SHARE, FOR TOTAL OF C$12 MILLION IN CONSIDERATION

* CHALICE GOLD MINES - CHALICE WILL RETAIN A 1.0% NSR ROYALTY ON ALL 100% OWNED CLAIMS ON BOTH PROJECTS THAT ARE NOT SUBJECT TO A PRE-EXISTING ROYALTY

* CHALICE GOLD MINES LTD - CHALICE WILL SELL ALL OUTSTANDING SHARES IN ITS WHOLLY OWNED SUBSIDIARY CGMQ, TO O3 MINING

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