Ophir Announces Sale of Remaining Interest in the Daniel's Harbour Claims to Ubique Minerals for 3.8 Million Shares
Vancouver, September 6, 2023 - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) ("Ophir" or the "Company") is pleased to announce that it has entered into a Mineral Claim Purchase Agreement ("Agreement") with Ubique Minerals Ltd. ("Ubique") to sell Ophir's remaining interest in its non-core Daniel's Harbour Claims in Newfoundland.
Under the terms of the Agreement, Ubique has agreed to purchase 100% interest in certain mineral mining claims located in Daniel's Harbour, Newfoundland Canada (the "Claims") from Ophir. The Claims are part of the option agreement announced between the companies on February 14, 2019, wherein previously Ubique had the option to earn up to a 70% interest in the Claims.
The transaction will be executed on an "as is, where is" basis, acknowledging the existing state, condition, and location of the Claims as of the Closing Date. In return for a 100% interest in the Claims, Ubique will issue 3,800,000 ordinary shares (the "Consideration Shares") to Ophir. The Closing Date for the transaction is anticipated to occur at 10:00 a.m. Vancouver time on the second business day after the Effective Date, subject to the fulfillment of the Agreement's terms and conditions.
About the Company
Ophir Gold Corp. is a diversified mineral exploration company focused on the exploration and development of the Radis Lithium Property in the James Bay, Quebec, and the past producing Breccia Gold Property located in Lemhi County, Idaho. The Company holds an option to earn a 100% interest in the Radis Property over a three-year period from Eastmain Resources Inc., a wholly owned subsidiary of Fury Gold Mines Limited, and an option to earn a 100% interest in the Breccia Property over a three-year period from CanaGold Resources Ltd. and DG Resource Management Ltd.
On behalf of the Board of Directors
"Shawn Westcott"
Ophir Gold Corp.
For further information, please contact:
Shawn Westcott, CEO
Phone 1 (604) 365 6681
swestcott@ophirgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable and include statements in this press release related to the completion of the transaction with Ubique.. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risk related to Ubique's failure to obtain adequate financing on a timely basis and on acceptable terms; and risks related to the maintenance of stock exchange listings;. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179686
