Canada Carbon Enters Into Agreement to Sell Red Chris Royalty to VOX Royalty Corp

Canada Carbon Enters Into Agreement to Sell Red Chris Royalty to VOX Royalty Corp

VANCOUVER, British Columbia, July 29, 2020 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V: CCB) is pleased to announce that it has entered into a binding agreement with SilverStream SEZC, a subsidiary of Vox Royalty Corp. (TSX-V:VOX), pursuant to which the Company will sell its royalty on the Red Chris South Project (“Red Chris”), which is located approximately 5km from the Red Chris gold-copper mine, operated in 70/30 joint venture by Newcrest Mining Limited (“Newcrest”) (ASX:NCM) and Imperial Metals Corp. (TSX: III) for cash consideration of C$225,000.The Red Chris royalty is a 1.5% net smelter return royalty in respect of all products mined from the property that was created when the Company sold the project claims to Red Chris Development Company Ltd on May 27th, 2013. The royalty has a partial 1.0% buyback right for C$1 million and a right of first refusal in favour of the operator (“ROFR”).
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