{"id":394255,"date":"2020-12-07T08:08:11","date_gmt":"2020-12-07T13:08:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=394255"},"modified":"2020-12-07T08:08:11","modified_gmt":"2020-12-07T13:08:11","slug":"noront-welcomes-new-partner-wyloo-metals","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/noront-welcomes-new-partner-wyloo-metals\/","title":{"rendered":"Noront Welcomes New Partner Wyloo Metals"},"content":{"rendered":"
\n

TORONTO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Noront Resources Ltd. (\u201cNoront\u201d) (TSX Venture: NOT) is pleased to welcome its new cornerstone security holder Wyloo Metals Pty Ltd. (\u201cWyloo Metals\u201d) which has entered into an agreement to acquire the beneficial equity and debt interests previously held by Resource Capital Fund V L.P.<\/p>\n

Wyloo Metals is the mining division of Tattarang, one of Australia\u2019s largest private investment groups. A long-term and collaborative investor supporting the discovery and development of the next generation of mines, Wyloo Metals is led by a multidisciplinary team of geologists, engineers and financial professionals. The company works closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards.<\/p>\n

\u201cWe are delighted that Wyloo Metals has chosen to acquire a cornerstone interest in Noront,\u201d said Noront President and CEO Alan Coutts. \u201cIt\u2019s exciting to partner with a company whose values parallel our own company principles. Wyloo makes long-term strategic investments in companies that mine responsibly, and that\u2019s a philosophy that aligns very well with the approach Noront is taking as we develop the Ring of Fire in an environmentally responsible manner in collaboration with our First Nation partners.\u201d<\/p>\n

Head of Wyloo Metals, Luca Giacovazzi, said the partnership with Noront presents a unique opportunity to join forces with a proven management team in the development of the Eagle\u2019s Nest deposit and the continued exploration of the world-class Ring of Fire region. \u201cThis investment reflects a long-term and collaborative strategy to support the discovery and development of the next generation of mines required to meet the growing demand of critical materials needed to power the decarbonisation of the global economy,\u201d Mr. Giacovazzi said.<\/p>\n

\n
\n Financial Details <\/u>
\n <\/strong>
\n
Pursuant to a purchase agreement between Wyloo Metals and Resource Capital Fund V and Resource Capital Annex Fund V (collectively, \u201cRCF\u201d), the parties have entered into an agreement to purchase all of RCF\u2019s interests in Noront; this includes its equity interest, representing approximately 22.5% of Noront\u2019s issued and outstanding common shares, a US$15 million convertible debenture and its 1.0% NSR on Noront\u2019s Eagle\u2019s Nest deposit.<\/p>\n

As a result of this third-party transaction, Wyloo Metals will become a control person of Noront and will have the right to nominate two members to Noront\u2019s Board of Directors, one of which must be independent of Wyloo Metals.<\/p>\n

\n
\n About Wyloo Metals<\/u>
\n <\/strong>
\n
Wyloo Metals is the metals and mining subsidiary of Tattarang, one of Australia\u2019s largest private investment groups. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public and private companies. See more at: www.wyloometals.com<\/a><\/p>\n

\n
\n About Noront <\/u>
\n <\/strong>
\n
Noront is focused on development of its high-grade Eagle\u2019s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.\u00a0www.norontresources.com<\/a><\/p>\n

\n For <\/strong>
\n more information<\/strong>
\n please contact:<\/strong>
\n
Janice Mandel
janice.mandel@stringcom.com<\/a>
(647) 300-3853<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Noront Resources Ltd. (\u201cNoront\u201d) (TSX Venture: NOT) is pleased to welcome its new cornerstone security holder Wyloo Metals Pty Ltd. (\u201cWyloo Metals\u201d) which has entered into an agreement to acquire the beneficial equity and debt interests previously held by Resource Capital Fund V L.P. Wyloo Metals is the mining division of Tattarang, one of Australia\u2019s largest private investment groups. A long-term and collaborative investor supporting the discovery and development of the next generation of mines, Wyloo Metals is led by a multidisciplinary team of geologists, engineers and financial professionals. The company works closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards. … <\/p>\n

Continue reading “Noront Welcomes New Partner Wyloo Metals”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-394255","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNoront Welcomes New Partner Wyloo Metals - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/noront-welcomes-new-partner-wyloo-metals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Noront Welcomes New Partner Wyloo Metals - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Noront Resources Ltd. (\u201cNoront\u201d) (TSX Venture: NOT) is pleased to welcome its new cornerstone security holder Wyloo Metals Pty Ltd. (\u201cWyloo Metals\u201d) which has entered into an agreement to acquire the beneficial equity and debt interests previously held by Resource Capital Fund V L.P. Wyloo Metals is the mining division of Tattarang, one of Australia\u2019s largest private investment groups. A long-term and collaborative investor supporting the discovery and development of the next generation of mines, Wyloo Metals is led by a multidisciplinary team of geologists, engineers and financial professionals. 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