- XXIX Metal Corp (OTCQB: QCCUF) to acquire a 19.9% stake in Kintavar Exploration through a non-dilutive share transaction.
- The transaction valued at $2,137,500, involves the sale of XXIX's interest in the Roger Project.
- The deal is expected to close in June 2025, pending regulatory approvals.
XXIX Metal Corp (QCCUF, Financial) has reached an agreement to sell its entire 100% interest in the 987-hectare Roger Project to Kintavar Exploration. The transaction, valued at $2,137,500, will be settled entirely in Kintavar shares, allowing XXIX to acquire a 19.9% stake in Kintavar without any new share issuance or dilution.
Located in the Chibougamau mining district, the Roger Project boasts significant mineral resources, including 333,000 ounces of gold-equivalent in Indicated Resources and 202,000 ounces in Inferred Resources. As part of the agreement, XXIX will transfer its option to acquire the remaining 50% interest in Roger to Orecap.
Post-transaction, Kintavar will have over $3.6 million in cash to focus on gold exploration in the eastern Chibougamau area. The agreement is anticipated to finalize by June 2025, contingent on regulatory clearances and other conditions.
Through this strategic move, XXIX aims to monetize non-core assets while retaining exposure to the project through its holdings in Kintavar. This will allow the company to focus on its primary copper projects: Opemiska and Thierry.
