Gossan Resources Completes Sale of Bird River Claims
Winnipeg, Manitoba--(Newsfile Corp. - February 24, 2025) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR) (XETRA: GSR) (the "Company" or "Gossan") is pleased to announce that it has completed the previously announced sale of its Bird River Property to Grid Metals Corp. (see Company Press Release dated April 13, 2023). Under the terms of the agreement between the two companies, the total consideration payable to Gossan for the Bird River Claims was as follows: (a) $500,000 cash payment on Closing of the Option;(b) 1,500,000 Shares of Grid on Closing of the Option;(c) $300,000 cash payment on the first anniversary date from Closing;(d) $300,000 cash payment on the second anniversary date from Closing;(e) the NSR; and(f) A $300,000 Deferred Cash Payment upon the occurrence of the Deferred Payment Event.
