Nova Royalty Corp to buy existing royalty on Chile copper project for $16 mn

Nova Royalty Corp is set to acquire an existing royalty on Los Andes Copper Ltd’s Vizcachitas project in Chile and that it had increased its convertible debt facility with Beedie Capital. Nova must pay $6.5 million in cash upfront on closing and up to $9.5 million in its shares, upon the achievement of certain project milestones. Closing of the deal is expected to occur by March this year.

Source: Proactive