An unknown private company signed a non-binding memorandum of understanding to acquire Springer Tungsten Mine and Mill near Winnemucca, Nevada from Till Capital Corporation (TSXV : TIL) for $2.6 million in March 2022. The terms of MOU include $2.6 million in cash for the deed and ownership of Springer. Additional consideration will be an agreement to provide Till with a net smelter return (“NSR”) royalty for total consideration of $5 million. After the completion of the payment of $5 million, the purchaser will continue to pay an NSR royalty to Till on ores milled at the Springer Mill. Any final purchase agreement will be subject among other things to the approval of the Till Board of Directors and the managers of the purchaser.

An unknown private company cancelled the acquisition of Springer Tungsten Mine and Mill near Winnemucca, Nevada from Till Capital Corporation (TSXV : TIL) on October 12, 2022.