NewPeak Metals Ltd (ASX: $NPM) announcement overview

NewPeak Metals Ltd (ASX: $NPM) has entered into a Binding Term Sheet to sell 100% of its interest in the Company's Finnish subsidiary companies, which hold the portfolio of Finland Gold permits. The sale to 1459988 BC Ltd, a Canadian unlisted private company, is structured to provide immediate cash, staged cash payments, and tradeable shares to support the Company's strategic rejuvenation plans.

Executive Commentary on the sale of Finland mineral permits

The sale of the Finland mineral permits is a significant step in our strategic rejuvenation plans. It provides us with immediate cash and the potential for additional cash payments and tradeable shares over the near to medium term, which will support our ongoing initiatives. We are pleased with the progress and look forward to the potential assignment of rights to a publicly listed Canadian entity by transaction close.

Summary of NewPeak Metals Ltd (ASX: $NPM) announcement

NewPeak Metals Ltd (ASX: $NPM) has finalized the sale of its Finnish subsidiary companies holding Finland Gold permits to 1459988 BC Ltd. The transaction includes immediate cash, staged cash payments, and tradeable shares, with the potential for additional milestone payments upon reporting a JORC Indicated 500,000 Oz Gold resource. This sale aligns with the Company's strategic rejuvenation plans and provides support for its ongoing initiatives. The completion of the transaction is subject to standard arrangements, including due diligence, relevant authorizations, consents, and shareholder approval if required. The Company's forward-looking statement emphasizes the uncertainties associated with exploration and mining, highlighting the potential business, economic, and competitive contingencies beyond its control.