M3 Metals Sells Interest in Stars Copper Property
Vancouver, December 13, 2021 - M3 Metals Corp. (TSXV: MT) (FSE: XOVN) ("M3 Metals" or the "Company") M3 Metals Corp. has signed a purchase and sale agreement with Aurwest Resources Corp. to sell the Company's 50-per-cent interest in the Stars property, a copper porphyry project, covering 2,136 hectares contiguous to Aurwest's Stellar property in central British Columbia.
Acquisition terms:
M3 Metals has agreed to sell its 50-per-cent interest in the Stars property by way of the purchase agreement. Terms of the transaction included a cash payment of $C450,000 on closing, 1,500,000 Common Shares, and granted the Vendor a 2% net smelter return. Aurwest has the right to repurchase at any time 1% per cent of the Royalty for consideration of $C1,000,000. The Common Shares issued in consideration of the acquisition will be escrowed and released in equal quarterly tranches over the next twelve months.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email info@m3metalscorp.com or call investor relations at (604) 669-2279.
M3 Metals Corp.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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