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Sipa sells royalties to SilverStream

5th March 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Sipa Resources has inked a binding preliminary purchase agreement with royalties company SilverStream to sell a portfolio of royalties for A$2.25-million.

“The sale of our portfolio of royalties to SilverStream is a great outcome, realising funds to support our ongoing activities in the Paterson province and Wolfe basin in particular,” said Sipa MD Pip Darvall.

The royalties exist over several projects previously identified and discovered by Sipa, with Darvall noting that the company would retain an indirect interest in these royalties through its shareholding in SilverStream.

The royalty agreement was subject to a number of conditions, including one third-party approval and the listing of SilverStream on the Toronto Stock Exchange by April 6, and completing a capital financing of no less than $3-million.

Edited by Creamer Media Reporter

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