Troy Minerals Signs Definitive Agreement with CBGB Ventures Corp.

Vancouver, BC / ACCESSWIRE / July 3, 2024 / Troy Minerals Inc. (CSE:TROY, OTCQB:TROYF, FSE:VJ3) has signed a definitive agreement to acquire 100% of CBGB Ventures Corp. for 3,244,151 common shares and 9,732,454 special warrants.

CBGB holds the Table Mountain Silica Project in British Columbia. Together with Troy, they will secure up to an 80% equity interest in Grand Samsara Development LLC, which holds the Tsagaan Zalaa Silica Project in Mongolia.

The special warrants will convert to common shares based on milestones including equity acquisition, mineral resource confirmation, and commercial production at both projects.

The closing of the transaction is subject to due diligence and CBGB shareholder approval. Issuable shares will have various resale restrictions ranging from six months to three years.