Canadian Palladium Completes Sale of Turner Lake Project
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2020) - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the "Company") announces that the Company has completed the sale of the Turner Lake property (the "Property"), located in Nunavut, Canada, pursuant to a mineral purchase agreement (the "Agreement") entered into with Pacific Cascade Minerals Inc. ("PCV"), as previously announced on September 13, 2018.
Under the terms of the Agreement PCV agreed to purchase a 100% right title and interest in the property in exchange for 1 million common shares of PCV which were delivered to the Company after PCV received TSX Venture Exchange approval for the transaction. The Company was also reimbursed $46,720 by PCV representing prior cash expenditures incurred on the Property. Upon commencement of commercial production, PCV shall pay a royalty to the Company equal to 1% of net smelter returns which may be purchased for the sum of $1,000,000 at any time after commercial production.
Canadian Palladium Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4472
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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