ARTICLE
28 January 2019

Batteryone Acquires Royalty On Dumont Nickel-Cobalt Project

GW
Gowling WLG

Contributor

Gowling WLG is an international law firm built on the belief that the best way to serve clients is to be in tune with their world, aligned with their opportunity and ambitious for their success. Our 1,400+ legal professionals and support teams apply in-depth sector expertise to understand and support our clients’ businesses.
On January 22, 2019, BatteryOne Royalty Corp. announced that it had acquired a 2.0% net smelter return ("NSR") royalty on future production over metals from the Dumont Nickel-Cobalt project...
Canada Corporate/Commercial Law

On January 22, 2019, BatteryOne Royalty Corp. announced that it had acquired a 2.0% net smelter return ("NSR") royalty on future production over metals from the Dumont Nickel-Cobalt project (the "Dumont deposit"), a fully permitted, construction-ready mine, which contains one of the world's largest undeveloped reserves of nickel and cobalt, located in the established Abitibi mining camp in Québec, Canada. The area under the royalty covers approximately 21% of the Dumont deposit. The acquisition price was $2 million in cash and 3,669,018 shares of BatteryOne (representing a 19% interest of BatteryOne). One-half of the NSR can be bought back by the owner of the project for $1 million.

BatteryOne is a private royalty company focused on nickel sulfide and copper deposits, which it sees as central to the continuing development of electric vehicles and the broader electrification thesis. The company intends to seek a listing on a Canadian stock exchange in 2019.

Gowling WLG advised BatteryOne with respect to this acquisition with a team that included Denis Silva and Aneeka Sandher (corporate), Alain Lalonde (real estate) and Brent Kerr (tax).

Read the original article on GowlingWLG.com

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