Orogen Sells Slaughterhouse Copper-Gold Project to Seabridge for Up to $2.85M Plus Royalties
OGNNF has more than doubled off its 52-week low of $1.38 on light trading volume (0.4× avg).
Summary
Orogen Royalties signed a purchase and sale agreement with Seabridge Gold for its Slaughterhouse IOCG project in Wyoming. Seabridge pays US$300,000 cash on closing plus milestone payments up to US$2.55 million tied to drilling, resource publication, and commercial production. Orogen retains a 2.5% NSR royalty on Slaughterhouse (with a 0.5% buydown for $5 million) and a 0.5%-1% NSR on a 2,400 sq km area of interest. The deal monetizes an early-stage exploration asset while preserving upside exposure through royalties. Closing is subject to customary conditions.
At the time of this announcement, OGNNF was trading at $3.02 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $179.4M. The 52-week trading range was $1.38 to $4.36. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.