Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

ESGBreaks – Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF), American West Metals Secure C$17.1M Royalty Package for Storm Copper Project

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia and Nunavut, Canada, along with its joint venture partner American West Metals Limited, has entered into a binding funding agreement with Australian-based Taurus Mining Royalty Fund L.P. According to the announcement, Taurus will provide up to $12.5 million under a royalty package for the Storm Copper Project. The announcement noted that 80% of the funding will be allocated for American West Metals and 20% for Aston Bay Holdings. American West Metals plans to use its funds to accelerate the Storm 2024 resource expansion and exploration programs, bring forward the logistics for the 2025 field activities and expedite the completion of environmental, social and governance (“ESG”), mining and development studies. The funds allocated to Aston Bay have no use restrictions. “This is an excellent development for the Storm Project and Aston Bay,” said Aston Bay CEO Thomas Ullrich in the press release. “The royalty financing provides significant funding and is structured to promote rapid advancement of the Storm Copper Project for our partner American West. At the same time, it provides a significant amount of nondilutive funds for Aston Bay to advance our other critical minerals and gold exploration projects in Nunavut and Virginia.”

To view the full press release, visit https://ibn.fm/2QqKM

About Aston Bay Holdings

Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in the state of Virginia and in Nunavut, Canada. The company is led by CEO Thomas Ullrich with exploration in Virginia directed by the company’s advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona. The company is currently exploring the high-grade Buckingham Gold Vein in central Virginia and is in advanced stages of negotiation on other lands with high-grade copper potential in the area. The company and its joint venture partners, American West Metals Limited and its wholly owned subsidiary, Tornado Metals Ltd. (collectively, American West), have formed a 20/80 unincorporated joint venture and are finalizing a joint venture agreement in respect to the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay shall have a free carried interest until American West has decided to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm Project property will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%. For more information, please visit www.AstonBayHoldings.com.

NOTE TO INVESTORS: The latest news and updates relating to ATBHF are available in the company’s newsroom at https://ibn.fm/ATBHF

About ESGWireNews

ESGWireNews (“ESG”) is a specialized communications platform with a focus on the Environmental, Social and Governance (ESG) sector and public companies committed to sustainable corporate practices. ESGWireNews is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, ESG is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, ESG brings its clients unparalleled recognition and brand awareness. ESG is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from ESGWireNews, text “ESG” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.ESGWireNews.com

Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer

ESGWireNews
Los Angeles, CA
www.ESGWireNews.com
310.299.1717 Office
Editor@ESGWireNews.com

ESGWireNews is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.