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Selten Metal has signed an RTO agreement with Capital Pool Company® – NexOptic Technology Corp, and Selten has amended NexOptic’s agreement on the THOR Heavy Rare Earth Element Project (Canadian Business Journal, Nevada).

Vancouver, British Columbia, March 18, 2022 (GLOBE NEWSWIRE) — (“NexOptic(TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1) February 18th of NexOpticth 2022 News Release and its December 18, 2021 and November 29, 2021 Joint News Releases with Selten Metal Corp (“Selten” Also “Celten Metal“), NexOptic reports that Selten has signed a letter agreement with Railtown Capital Corp. (TSXV: RLT.P) (“Rail Town“), Capital pool company. This will allow Railtown to acquire all of Selten’s issued and issued securities on a one-to-one basis. This transaction will form a Railtown eligible transaction and become Selten in accordance with the policies of the TSX Venture Exchange. A reverse acquisition acquirer listed on the TSX Venture Exchange.

NexOptic is pleased to announce further fixes (“Fix“) The terms of the mineral property option contract (“option”) Serten respecting the THOR Heavy Rare Earth Element Project in Nevada (“”Thor” or “THOR project”) To (i) stipulate that the first payment under the option will be paid before May 15, 2022, (ii) reduce the consideration Selten pays to NexOptic, and make the remaining 25% stake in THOR. Provides for exercising the option to be acquired (after the first acquisition of a 75% stake in THOR) 5,000,000 shares of Selten’s common stock.

The purpose of the amendment is to address the proposed transaction with Selten’s Railtown and to complete the proposed transaction with Railtown in connection with the amendment of consideration for the remaining 25% stake in THOR. It is a condition.

According to the modified options, in order for Selten to acquire the first 75% stake in THOR, Selten must do the following: (A) Make a cash payment of $ 1,100,000 to NexOptic before May 15, 2022. (B) On the listing date, the number of common shares of capital equivalent to 9.5% of the issued Selten shares after issuance will be issued to NexOptic. (C) Twelve months after the listing date, an additional 500,000 shares will be issued to NexOptic. (D) An additional 500,000 shares will be issued to NexOptic 24 months after the listing date. If the listing date does not occur within 24 months from the option date, the option will end.

THOR is subject to a 2% net smelter revenue royalty owned by a private company. 1% of that can be purchased by NexOptic at any time for $ 500,000, so you can get your entire royalties for $ 1,000,000.

The THOR project consists of approximately 2184 hectares, of which 1280 hectares were recently stakeout by NexOptic. The project is located 120 km from Las Vegas, in an active mining area of ​​southern Nevada, and 27 km from the once largest rare earth element (“REE”) mine. In the world (1952), the pass. In 2017, Mountain Pass was reopened as the largest REE mine in the Western Hemisphere and the only REE mine in North America (MP Material).

A joint news release from Selten Metal Corp / Railtown Capital Corp will be published as early as the week of March 21st.st It will then be posted on www.seltenmetal.com. Additional information about the Selten Metal and THOR projects is also in the same domain.

The word “Selten”, which means “rare earth” in German, means that rare earths procured in the United States are for climatic economy, modern technology, and global geopolitical stability.

The other properties of mineralization mentioned here do not necessarily indicate the mineralization of the THOR project.

What you need to know about NexOptic

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada, with operations in Seoul, South Korea, and is known as ALIIS ™ (All Light Intelligent Imaging Solutions), a world-leading patented and patent application. We provide AI solutions for imaging inside. NexOptic has a simultaneous impact on the imaging and AI industries, is a preferred partner in the NVIDIA Partner Network, a member of the Arm® AI Partner Program, and a member of the Qualcomm® Platform Solutions Ecosystem. For more information, please visit www.nexoptic.com.

Description of future prospects

This news release contains forward-looking statements and forward-looking information (collectively, “Forecast Statements”) within the meaning of applicable securities laws. All statements except historical facts are forward-looking statements. In general, forward-looking statements are terms such as “plan,” “expect,” “estimate,” “intend,” “expect,” “believe,” or variations of such terms. Or you can identify it using a description that describes a particular behavior. , Event or result is “possible”, “possible”, “possible”, “possible”, “acquired”, “occurs”, or “achieved” “. Forward-looking statements in this news release include, but are not limited to, statements regarding this Agreement. Selten’s proposed deal with Railtown and timing of listing date, expectations for REE demand, plans for exploration of the THOR project. Forward-looking statements include risks, uncertainties, and other factors disclosed under the heading “Risk Factors” and elsewhere in NexOptic’s filings with Canadian securities regulators. increase. A description of the future outlook. NexOptic believes that the assumptions and factors used in making these forward-looking statements are reasonable based on the information currently available to management as of today, but the actual results. And progress may differ materially from those envisioned in these statements. Therefore, readers should be careful not to place undue reliance on these statements, which apply only as of the date of this news release. There is no guarantee that such an event will occur within or at all within the disclosed time frame. Except as required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statement for reasons such as new information, future events, etc.

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this news release.

For more information, please contact:

NexOptic

Tel: +1 (604) 669-7330 x 202

Email: look@nexoptic.com

Selten Metal Corp

Email: invest@seltenmetal.com


CBJ News Maker

Selten Metal has signed an RTO agreement with Capital Pool Company® – NexOptic Technology Corp, and Selten has amended NexOptic’s agreement on the THOR Heavy Rare Earth Element Project (Canadian Business Journal, Nevada).

Source link Selten Metal has signed an RTO agreement with Capital Pool Company® – NexOptic Technology Corp, and Selten has amended NexOptic’s agreement on the THOR Heavy Rare Earth Element Project (Canadian Business Journal, Nevada).

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