Battery Mineral Resources Closes Gowganda Sale for $1M Cash, 4.4M Shares and 3% Royalty
Battery Mineral Resources closed the sale of 100% interest in four Gowganda silver tailings leases for $1M cash, 4,401,408 Nord shares at $1.25M valuation and a 3% net smelter returns royalty. The deal provides $3.75M deferred over three annual payments, with up to 50% payable in shares pending TSXV approval.
1. Transaction Closing
Battery Mineral Resources finalized the sale of its 100% indirect interest in four mining leases comprising the Gowganda silver tailings project to Nord Precious Metals on March 31, 2026, under an amended definitive agreement.
2. Consideration Breakdown
Nord Precious Metals paid $1,000,000 in cash, issued 4,401,408 common shares at a deemed price of $0.284 each (valued at $1.25M), and granted a 3.0% net smelter returns royalty on the project.
3. Deferred Payments and Share Option
The agreement includes $3.75M of deferred consideration payable in three equal annual installments, with Nord able to satisfy up to 50% of each payment in common shares based on the 25-day VWAP or exchange minimum, subject to hold periods.
4. Next Steps and Strategic Focus
Completion awaits final TSXV approval. Proceeds and royalty income will support Battery’s focus on its Punitaqui copper-silver complex in Chile and other exploration assets while preserving upside from the Gowganda project.