Troy Minerals Signs Binding Intent to Acquire CBGB Ventures

VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / Troy Minerals Inc. ("Troy" or the "Company"), trading on CSE, OTCQB, and FSE, has signed a binding letter of intent to acquire CBGB Ventures Corp., a private company in British Columbia. This acquisition involves all issued and outstanding shares of CBGB, which holds interests in the Table Mountain Silica Project in B.C. and the Tsagaan Zalaa Silica Project in Mongolia.

The deal is expected to diversify and strengthen Troy's portfolio with high purity silica assets vital for products like microchips and solar photovoltaics. CEO Rana Vig emphasized the strategic fit of these assets for the company's growth and exploration agenda. This includes upcoming drill programs in Quebec and Wyoming.

The acquisition involves exchanging shares and special warrants, subject to milestone achievements and regulatory approvals. The transaction is expected to strengthen Troy’s position in the critical minerals market, potentially positioning it as a leader.