Rare Earths Miner Matamec Enters Into Two Vital Agreements with Toyotsu Over Kipawa HREE Deposit

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Matamec Explorations Inc., a junior mining rare earth exploration company, has entered into a sale and purchase agreement ( SPA ) and a joint venture agreement ( JVA ) with Toyotsu Rare Earth Canada, Inc. (TRECan) over the former's Kipawa heavy rare earths element (HREE) deposit in Québec.

Under the SPA, TRECan obtained from Matamec Explorations Inc. an undivided interest of 49 per cent in the Kipawa HREE Deposit for a total consideration not exceeding $16,000,816 CAD. The said amount will be used to fund the expenses related to the feasibility study on the deposit.

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This article appears in: Investing Commodities
Referenced Stocks: JVA , SPA


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