On October 5, 2020, Transition Metals Corp. completed its sale of royalty interests to Nova Royalties for $1,072,500 in cash, 525,000 in shares and up to $2 million in deferred compensation in the event certain milestones are met. The proceeds will be used to accelerate Transition Metals’ short term activities and will allow the advancement of projects and new opportunities. The company now holds a strong cash position and interest in over 20 projects and 6 production royalties.
Transition Metals Corp. is a Canadian based multi-commodity project generator specializing in converting new exploration ideas into discoveries.
Nova Royalties is a Vancouver based royalty company focused on acquiring royalties on battery related metals like nickel and copper, from major mining companies, juniors and prospectors seeking to monetize royalty assets.
Osler, Hoskin & Harcourt LLP advised Transition Metals Corp. with a team consisting of Alan Hutchison and Patrick Sullivan (Corporate).