Kiska Announces $300,000 Prospect Generator Agreement
May 26, 2014 (Source: Marketwired) — Kiska Metals Corporation (“Kiska” or the “Company”) (TSX VENTURE:KSK) is pleased to announce it has signed an agreement with a private equity fund (the “Fund”) whereby the Fund has agreed to finance a US$300,000 targeting exercise on the Company’s proprietary New Jersey Zinc database. Under the terms of the agreement, the Fund will acquire a 0.5% NSR royalty on projects generated from the targeting exercise, and will have the option to increase its royalty to 2% by paying Kiska an additional $500,000 for every 0.5% NSR rate increase for each property taken through the preliminary economic assessment stage. The Fund will also be entitled to 50% of the proceeds of any sales of data on projects generated from the targeting exercise.
The New Jersey Zinc database is an extensive database of approximately 800 banker’s boxes and 200 map tubes that spans nearly 150 years’ worth of base & precious metals exploration activity from around the world. Much of the data is from North America and pre-dates assessment reporting requirements and therefore isn’t in the public domain. The database was acquired by Kiska’s predecessor company, Geoinformatics.
“We are very pleased to enter into this agreement,” stated Grant Ewing, President and CEO. “This agreement provides an attractive way of financing the Company’s prospect generation activities and has the potential to provide additional cash to Kiska in the future. It is one example of how Kiska will continue to generate value and position itself for a market upturn in the future.”
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a diverse portfolio of gold and copper projects throughout North America and Australia. One of the more advanced assets is the Whistler property, Alaska, a district-scale gold-copper porphyry project that contains a large NI 43-101 gold/copper resource and has excellent exploration potential. Kiska has numerous gold and copper projects available for option-joint venture as well as an extensive royalty portfolio available for purchase.
On behalf of Kiska Metals Corporation
Grant Ewing, President & CEO
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska’s expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov.
Raj Shah has been a member of the InvestorIntel.com team for the last nearly 9 years. Recruited from Merrill Lynch, he has over 13 years’ ... <Read more about Raj Shah>